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Wyeth Reports Earnings Results for the 2007 Third Quarter and First Nine Months
Date:10/18/2007

and

Administrative Expenses 5,900 43,700 26,900 54,800

Research and Development

Expenses - 5,200 200 13,500

Total Productivity

Initiatives Charges $117,100 $80,200 $209,500 $154,800

Productivity Initiatives

Charges, After-tax $86,000 $54,900 $152,500 $106,400

Decrease in Diluted

Earnings per Share $0.06 $0.04 $0.11 $0.08

Income Tax Adjustment

Included in the 2006 third quarter and first nine months is an income

tax adjustment of $70.4 million ($0.05 per share-diluted) related to

the reduction of certain deferred tax asset valuation allowances.

Wyeth calculates net income before certain significant items by

excluding the after-tax effect of items considered by management to

be unusual from the net income reported under generally accepted

accounting principles (GAAP). Wyeth's management uses this measure

to manage and evaluate the Company's performance and believes it is

appropriate to disclose this non-GAAP measure to assist investors

with analyzing business performance and trends. The productivity

initiatives charges, which include costs associated with the Global

Business Operations initiative, the costs of closing certain

manufacturing facilities, including accelerated depreciation, certain

reorganization expenses and the elimination of certain positions at

the Company's facilities, and the income tax adjustment related to

the reduction of certain deferred tax asset valuation allowances have

been excluded as they are not considered to be indicative of

continuing operating results. Wyeth's management believes that

excluding thes
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SOURCE Wyeth
Copyright©2007 PR Newswire.
All rights reserved

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