Adjusted net income excluding selected items(1)
Q4 2007: euro 1,429 million (up 4.5%), i.e. euro 1.07 per share (up 5.9%, or up
18.3% in U.S. dollars(2))
FY 2007: euro 6,961 million (up 5.9%), i.e. euro 5.17 per share (up 5.9%, or up
15.7% in U.S. dollars(2))
BRIDGEWATER, N.J., Feb. 12 /PRNewswire-FirstCall/ -- In order to give a
representation of our underlying economic performance, we present and
explain an adjusted(1) income statement. We also report adjusted net income
and adjusted EPS (excluding selected items) in U.S. dollars(2) in order to
facilitate comparisons with the majority of major pharmaceutical groups.
The 2007 consolidated income statement is provided in the Appendices.
Full-year consolidated net income for 2007 was euro 5,263 million, against
euro 4,006 million for 2006.
Fourth quarter
-- Net sales down 2.2% on a comparable basis (or 6.0% on a reported basis)
at euro 6,911 million
-- Growth of 5.7% in pharmaceuticals net sales after excluding the impact
of generics of Ambien(R) IR in the United States and Eloxatin(R) in
Europe(3)
-- Growth in earnings despite the negative effects of the euro/dollar
exchange rate and of earlier shipments of influenza vaccines than in
2006
2007 full year: euro 5.28 adjusted EPS with selected items; euro 5.17
excluding selected items
-- Net sales up 2.8% on a comparable basis (down 1.1% on a reported basis)
at euro 28,052 million
-- Growth of 6.4% in Pharmaceuticals net sales after excluding the impact
of generics of Ambien(R) IR in the United States and Eloxatin(R) in
Europe(3); 14.5% growth in Vaccines net sales
-- Lantus(R): First insulin brand to exceed euro 2 billion of sales
-- Marked decline in selling and general expense
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