Watson Pharmaceuticals Reports First Quarter 2009 Results; Raises 20... (atson's periodic public filings with the...)

Watson Pharmaceuticals Reports First Quarter 2009 Results; Raises 2009 Outlook

Date:4/30/2009

atson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's Annual Report on Form 10-K for the year ended December 31, 2008. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.

The following table presents Watson's Condensed Consolidated Statements of Operations for the three months ended March 31, 2009 and 2008:

Table 1
Watson Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(Unaudited; in millions, except per share amounts)

Three Months
Ended
March 31,
---------
2009 2008
---- ----

Net revenues $667.4 $626.9
Cost of sales (excludes amortization,
presented below) 388.7 380.1
----- -----
Gross profit 278.7 246.8
----- -----

Operating expenses:
Research and development 42.3 38.0
Selling, general and administrative 134.6 106.6
Amortization 21.8 20.2
Gain on asset sales (1.5) -
---- ----
Total operating expenses 197.2 164.8
----- -----
Operating income
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SOURCE Watson Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved
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Watson Pharmaceuticals Reports First Quarter 2009 Results; Raises 20...(atson's periodic public filings with the...),Health