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Mylan Reports Q1 2012 Adjusted Diluted EPS of $0.52, an 18% Increase Over Prior Year Quarter
Date:4/26/2012

and amortization, was $366.4 million for the quarter ended March 31, 2012, and $334.6 million for the comparable prior year period.  After adjusting for certain items as further detailed below, adjusted EBITDA was $411.2 million for the current quarter and $386.0 million for the comparable prior year period. 

Operating Cash Flow Adjusted cash provided by operating activities was $67 million for the quarter ended March 31, 2012, compared to $14 million for the comparable prior year period. The increase in adjusted cash provided by operating activities was principally the result of an increase in profitability. On a GAAP basis, cash used in operating activities was $(109) million for the quarter ended March 31, 2012, compared to $(46) million for the comparable prior year period. The increase in GAAP cash used in operating activities was principally the result of an increase in the payments related to previously accrued litigation settlements. Capital expenditures were approximately $36 million in the current year as compared to approximately $41 million in the same prior year period.

Non-GAAP Financial Measures Mylan is disclosing non-GAAP financial measures when providing financial results. Primarily due to acquisitions, Mylan believes that an evaluation of its ongoing operations (and comparisons of its current operations with historical and future operations) would be difficult if the disclosure of its financial results were limited to financial measures prepared only in accordance with accounting principles generally accepted in the U.S. (GAAP). In addition to disclosing its financial results determined in accordance with GAAP, Mylan is disclosing certain non-GAAP results that exclude items such as amortization expense and other costs directly associated with the acquisitions as well as certain other expense, revenue and operating cash flow items in order to supplement investors' and other readers' understanding and assessment of th
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SOURCE Mylan Inc.
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