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Shire Delivers Record Quarterly Revenues and Non GAAP Diluted Earnings per ADS up 42%
Date:7/18/2014

DUBLIN, July 18, 2014 /PRNewswire/ --

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Increases Non GAAP diluted earnings per ADS guidance to low-to-mid thirty percent growth in 2014.  

Shire (LSE: SHP, NASDAQ: SHPG) announces unaudited results for the three months to June 30, 2014.

Financial Highlights Q2 2014 Growth(1) Product sales $1,470 million +22%(2) Total revenues $1,502 million +20% Non GAAP operating income $630 million +32% US GAAP operating income from continuing operations $338 million -14% Non GAAP EBITDA margin (excluding royalties & other revenues)(3) 44% n/a US GAAP net income margin(4) 35% n/a Non GAAP diluted earnings per ADS $2.67 +42% US GAAP diluted earnings per ADS $2.66 +96% Non GAAP cash generation $659 million +76% Non GAAP free cash flow $830 million +245% US GAAP net cash provided by operating activities $834 million +223%

(1) Percentages compare to equivalent 2013 period. The 2013 comparatives in this release have been recast to exclude the DERMAGRAFT® business from continuing operations following its divestment on January 17, 2014.

(2) Product sales from continuing operations, including ViroPharma Inc. acquired January 24, 2014, and excluding DERMAGRAFT.

(3) Non GAAP earnings before interest, tax, depreciation and amortization ("EBITDA") as a percentage of product sales, excluding royalties and other revenues.

(4) US GAAP net income as a percentage of total revenues.

The Non GAAP financial measures included within this release are explained on page 29, and are reconciled to the most directly comparable financial measures prepared in accordance with US GAAP on pages 21 - 26.'/>"/>

SOURCE Shire plc
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