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Schering-Plough Reports Financial Results for Third Quarter of 2007
Date:10/22/2007
TION
Report for the third quarter ended September 30 (unaudited):
(Amounts in millions, except per share figures)
Third Quarter Nine Months
2007 2006 2007 2006
Net sales 1/ $2,812 $2,574 $8,965 $7,944
Cost of sales 2/ 925 885 2,838 2,782
Selling, general and administrative 1,262 1,158 3,833 3,467
Research and development 3/ 669 536 2,071 1,557
Other income, net 4/ (390) (37) (451) (89)
Special and acquisition related
charges 5/. 20 10 32 90
Equity income from cholesterol joint
venture (506) (390) (1,483) (1,056)
Income before income taxes 832 412 2,125 1,193
Income tax expense 82 103 272 275
Net income before cumulative effect
of a change in accounting
principle $750 $309 $1,853 $918
Cumulative effect of a change in
accounting
principle, net of tax 6/ - - - (22)
Net income $750 $309 $1,853 $940
Preferred stock dividends 37 22 80 65
Net income available to common
shareholders $713 $287 $1,773 $875
Diluted earnings per common share:
Earnings available to common
shareholders before cumulative
effect of a
change in accounting principle 7/ $0.45 $0.19 $1.15 $0.57
Cumulative effect of a change in
accounting
principle, net of tax 6/ - - - 0.02'/>"/>
| SOURCE Schering-Plough Corporation Copyright©2007 PR Newswire. All rights reserved |
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