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

.7 2,306.1 20% 98% Royalties: FOSRENOL 22.2 19.8 12% 1% 3TC and ZEFFIX 15.8 23.8 -34% 1% ADDERALL XR 13.5 13.0 4% <1% Other 10.0 18.2 -45% <1% Total royalties 61.5 74.8 -18% 2% Other revenues 9.7 14.7 -34% <1% Total revenues 2,848.9 2,395.6 19% 100%

 

Unaudited results for the three months to June 30, 2014 

Non GAAP reconciliation 

3 months to June 30, 2014 US GAAP Adjustments Non GAAP (a) (b) (c) (d) (e) (f) $M $M $M $M $M $M $M $M Total revenues 1,502.1 - - - - - - 1,502.1 Costs and expenses: Cost of product sales 277.0 - (33.7) - - - (17.8) 225.5 R&D 236.9 (22.0) - - - - (5.8) 209.1 SG&A 496.2 (61.2) - - (2.2) (19.1) (21.1) 392.6 Gain on sale of product rights (3.8) - - 3.8 - - - - Reorganization costs 45.8 - - (45.8) - - - - Integration and acquisition costs 112.1 - (112.1) - - - - - Depreciation - - - - - - 44.7 44.7 Total operating expenses 1,164.2 (83.2) (145.8) (42.0) (2.2) (19.1) - 871.9 Operating income 337.9 83.2 145.8 42.0 2.2 19.1 - 630.2 Interest income 18.7 - - - - (18.6) - 0.1 Interest expense (11.1) - - - - - - (11.1) Other expense, net 3.3 - - - - - - 3.3 Total other income/(expense), net 10.9 - - - - (18.6) - (7.7) Income before income taxes and equity in earnings of equity method investees 348.8 83.2 145.8 42.0 2.2 0.5 - 622.5 Income taxes 176.5 (31.5) (15.3) (12.7) (0.8)(216.0) - (99.8) Equity in earnings of equity method investees, net of tax 3.0 - - - - - - 3.0 Net income from continuing operations 528.3 51.7 130.5 29.3 1.4 (215.5) - 525.7 Loss from discontinued operations, net of tax (5.2) - - 5.2 - - - - Net income 523.1 51.7 130.5 34.5 1.4 (215.5) - 525.7 Weighted average number of shares (millions) - diluted 590.3 - - - - - - 590.3 Diluted earnings per ADS 265.8c 26.5c 66.4c 17.5c 0.6c (109.5) - 267.3c

The following items are included in Adjustments:

  1. Amortization and asset impairments: Impairment of IPR&D intangible asset ($22.0 milli
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SOURCE Shire plc
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