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Mylan Reports Second Quarter 2014 Adjusted Diluted EPS of $0.69, In Line With Guidance
Date:8/7/2014

PITTSBURGH, Aug. 7, 2014 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today announced its financial results for the three and six months ended June 30, 2014.

Second Quarter 2014 Highlights

  • Total revenues of $1.84 billion, up 8% versus the prior year period with positive growth across all regions and businesses
  • Generics segment third party sales of $1.53 billion, up 6% on a constant currency basis
  • Specialty segment third party sales of $287.8 million, up 22%
  • Adjusted gross profit of $923.4 million, up 11%; GAAP gross profit of $808.8 million, up 9%
  • Adjusted gross margin of 50%, up from 49% in the prior year period; GAAP gross margin of 44%
  • Adjusted diluted earnings per share (EPS) of $0.69, an increase of 1% and in line with company guidance; GAAP diluted EPS of $0.32
  • Total revenue guidance for 2014 narrowed to $7.8 billion to $8.0 billion; adjusted diluted EPS guidance for 2014 narrowed to $3.25 to $3.45
  • Reaffirms opportunity to accelerate target of at least $6.00 in adjusted diluted EPS in 2018.(1)
  • Mylan CEO Heather Bresch commented, "We continued to deliver strong results in the second quarter of 2014, driven by double-digit revenue growth in our Specialty business and Rest of World region, and continued solid performance in Europe and North America. We were able to achieve these results, which were right in line with our expectations, despite ongoing delays in approvals of key products by the U.S. Food and Drug Administration, once again demonstrating our ability to execute and maximize our global platform and commercial opportunities.

    "Further, the recently-announced strategic acquisition of Abbott's non-U.S. developed markets specialty and branded generics business builds on our strong momentum, expands and further diversifies our business in
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    SOURCE Mylan Inc.
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