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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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