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Mylan Reports Third Quarter 2013 Adjusted Diluted EPS of $0.82
Date:10/31/2013

period. After adjusting for certain items as further detailed below, adjusted EBITDA was $1.44 billion for the nine months ended September 30, 2013 and $1.43 billion for the comparable prior year period.

Cash FlowAdjusted cash provided by operating activities was $727 million for the nine months ended September 30, 2013, compared to $823 million for the comparable prior year period. On a GAAP basis, cash provided by operating activities was $689 million for the nine months ended September 30, 2013, compared to $658 million for the comparable prior year period. Capital expenditures were approximately $239 million in the current year as compared to approximately $160 million in the same prior year period. The increase in capital expenditures as compared to 2012 is the result of expenditures to expand our global operating platform, including capital investments in our strategic growth drivers.

On October 29, 2013, the Board of Directors of the Company approved the repurchase of up to $500 million of the Company's common stock. This share repurchase plan will be financed with our available cash on hand, revolver borrowings or future debt issuances. The repurchase program does not obligate the Company to acquire any particular amount of common stock.

Non-GAAP Financial MeasuresMylan 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
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SOURCE Mylan Inc.
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