Watson Pharmaceuticals Reports First Quarter 2009 Results; Raises 20...(Ended ...),Health

Date:4/30/2009

Ended March 31, ------------ 2009 2008 ---- ---- Cash Flows from Operating Activities: Net income $49.1 $50.6 ----- ----- Reconciliation to net cash provided by operating activities: Depreciation and amortization 45.0 42.0 Deferred income tax provision 5.7 6.4 Provision for inventory reserve 12.3 9.1 Restricted stock and stock option compensation 4.5 4.3 Other adjustments (2.7) (2.7) Changes in assets and liabilities: Accounts receivable, net (48.6) (6.2) Inventories (15.3) (39.8) Accounts payable and accrued expenses 1.5 (26.1) Income taxes payable 10.8 24.3 Other assets and liabilities 7.2 4.7 --- --- Total adjustments 20.4 16.0 ---- ---- Net cash provided by operating activities 69.5 66.6 ---- ---- Cash Flows from Investing Activities: Additions to property, equipment and pr
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SOURCE Watson Pharmaceuticals, Inc. Copyright©2009 PR Newswire. All rights reserved

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