Bristol-Myers Squibb reported strong financial results for the first quarter of 2008, with net sales growing 20% driven by growth in the pharmaceutical business. Earnings from continuing operations grew 51% to $1.29 billion compared to the first quarter of 2007. The company reaffirmed its 2008 earnings guidance and announced plans to file an IPO to sell approximately 10% of its Mead Johnson Nutritionals business. Key drugs such as Abilify, Plavix, and Baraclude saw sales increases in the double-digit percentages compared to the first quarter of 2007.
bristol myerd squibb Bristol-Myers Squibb Company Reports Second Quarter 2008...finance13
Bristol-Myers Squibb reports strong financial performance in Q2 2008 with 16% growth in global net sales and 24% increase in pre-tax earnings. They reaffirmed 2008 EPS guidance and announced plans to achieve an additional $1 billion in productivity savings by 2012. Key drivers of growth were double-digit sales increases of drugs such as Plavix, Abilify, and the HIV/Hepatitis portfolio. Bristol-Myers Squibb also submitted regulatory filings for the diabetes drug Onglyza in the US and Europe.
Bristol-Myers Squibb reported strong fourth quarter 2008 results, with net sales increasing 4% driven by key products like Plavix, Abilify, and Orencia. Gross profit margins improved significantly due to cost improvements and favorable product mix. Research and development expenses increased to fund new collaborations. The company provided guidance for 2009 GAAP EPS of $1.58-$1.73 and non-GAAP EPS of $1.85-$2.00, expecting revenue growth and further margin improvements. Bristol-Myers will continue business development efforts and advancing its pipeline to create long-term shareholder value.
bristol myerd squibb Bristol-Myers Squibb Company Reports Third Quarter 2008 ...finance13
Bristol-Myers Squibb reported strong financial results for Q3 2008, with 14% growth in net sales and a 39% increase in non-GAAP EPS compared to Q3 2007. The company strengthened its cash position to $7.2 billion and reduced its net debt by $4.6 billion. Bristol-Myers Squibb raised its 2008 GAAP EPS guidance to $1.61-$1.66 and refined its non-GAAP EPS guidance to $1.65-$1.70, representing the upper range of previous guidance. The company also reaffirmed 15% minimum annual non-GAAP EPS growth through 2010.
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impactsfinance3
P&G delivered strong sales and earnings results in the July-September quarter despite impacts from hurricanes. Sales grew 8% to $14.79 billion and earnings per share grew 10% to $0.77, beating analyst estimates. All business segments saw sales and volume growth, led by beauty, health care, and household care. Growth was broad-based across brands, countries, and regions. Developing markets grew volumes in the mid-teens. The results demonstrated the company's ability to deliver consistent growth in both good and challenging times.
P&G Delivers at Top End of Increased Earnings Expectationsfinance3
P&G delivered strong financial results in the October-December quarter, with double-digit growth in unit volume, net sales, and earnings. Unit volume grew 19% overall and 9% excluding acquisitions, with all business segments experiencing growth. Net sales increased 20% to $13.22 billion due to volume growth and a 4% boost from foreign exchange rates. Reported net earnings grew 22% to $1.82 billion, driven by volume growth and manufacturing cost savings enabling marketing investments.
- Bruker reported revenue growth of 2.5% year-over-year for Q1 2017 to $384.9 million, driven by acquisitions offsetting declines in organic and currency revenue.
- Non-GAAP gross margin expanded 90 basis points and non-GAAP operating margin grew 20 basis points compared to Q1 2016.
- EPS declined to $0.19 per share from $0.21 per share in Q1 2016 due to a higher effective tax rate in the current period.
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlookfinance3
P&G delivered strong sales and earnings growth in the January-March quarter. Organic sales grew 6% behind a 5% increase in organic volume. Reported net sales grew 21% to $17.25 billion including the addition of Gillette. EPS grew 7% to $0.63, including $0.07-$0.08 dilution from Gillette. For the fiscal year, P&G raised its EPS outlook to $2.61-$2.63 and expects organic sales growth of 6-7% and net sales growth of 19-20%.
P&G Delivers 8% Organic Sales Growth for the April-June Quarter; Drives Base ...finance3
P&G reported strong fiscal Q4 and full year results. Organic sales grew 8% in Q4 and 7% for the full year, ahead of targets. Base business EPS grew an estimated 17-21% in Q4 and 12-13% for the full year. Net earnings increased 36% in Q4 and 25% for the full year due to sales growth, margin improvement, and the Gillette acquisition. All business segments and regions increased organic sales and volume for both periods.
bristol myerd squibb Bristol-Myers Squibb Company Reports Second Quarter 2008...finance13
Bristol-Myers Squibb reports strong financial performance in Q2 2008 with 16% growth in global net sales and 24% increase in pre-tax earnings. They reaffirmed 2008 EPS guidance and announced plans to achieve an additional $1 billion in productivity savings by 2012. Key drivers of growth were double-digit sales increases of drugs such as Plavix, Abilify, and the HIV/Hepatitis portfolio. Bristol-Myers Squibb also submitted regulatory filings for the diabetes drug Onglyza in the US and Europe.
Bristol-Myers Squibb reported strong fourth quarter 2008 results, with net sales increasing 4% driven by key products like Plavix, Abilify, and Orencia. Gross profit margins improved significantly due to cost improvements and favorable product mix. Research and development expenses increased to fund new collaborations. The company provided guidance for 2009 GAAP EPS of $1.58-$1.73 and non-GAAP EPS of $1.85-$2.00, expecting revenue growth and further margin improvements. Bristol-Myers will continue business development efforts and advancing its pipeline to create long-term shareholder value.
bristol myerd squibb Bristol-Myers Squibb Company Reports Third Quarter 2008 ...finance13
Bristol-Myers Squibb reported strong financial results for Q3 2008, with 14% growth in net sales and a 39% increase in non-GAAP EPS compared to Q3 2007. The company strengthened its cash position to $7.2 billion and reduced its net debt by $4.6 billion. Bristol-Myers Squibb raised its 2008 GAAP EPS guidance to $1.61-$1.66 and refined its non-GAAP EPS guidance to $1.65-$1.70, representing the upper range of previous guidance. The company also reaffirmed 15% minimum annual non-GAAP EPS growth through 2010.
P&G Delivers Strong Sales and EPS Results Despite Hurricane Impactsfinance3
P&G delivered strong sales and earnings results in the July-September quarter despite impacts from hurricanes. Sales grew 8% to $14.79 billion and earnings per share grew 10% to $0.77, beating analyst estimates. All business segments saw sales and volume growth, led by beauty, health care, and household care. Growth was broad-based across brands, countries, and regions. Developing markets grew volumes in the mid-teens. The results demonstrated the company's ability to deliver consistent growth in both good and challenging times.
P&G Delivers at Top End of Increased Earnings Expectationsfinance3
P&G delivered strong financial results in the October-December quarter, with double-digit growth in unit volume, net sales, and earnings. Unit volume grew 19% overall and 9% excluding acquisitions, with all business segments experiencing growth. Net sales increased 20% to $13.22 billion due to volume growth and a 4% boost from foreign exchange rates. Reported net earnings grew 22% to $1.82 billion, driven by volume growth and manufacturing cost savings enabling marketing investments.
- Bruker reported revenue growth of 2.5% year-over-year for Q1 2017 to $384.9 million, driven by acquisitions offsetting declines in organic and currency revenue.
- Non-GAAP gross margin expanded 90 basis points and non-GAAP operating margin grew 20 basis points compared to Q1 2016.
- EPS declined to $0.19 per share from $0.21 per share in Q1 2016 due to a higher effective tax rate in the current period.
P&G Delivers Strong Sales and EPS Growth - Raises Fiscal Year Outlookfinance3
P&G delivered strong sales and earnings growth in the January-March quarter. Organic sales grew 6% behind a 5% increase in organic volume. Reported net sales grew 21% to $17.25 billion including the addition of Gillette. EPS grew 7% to $0.63, including $0.07-$0.08 dilution from Gillette. For the fiscal year, P&G raised its EPS outlook to $2.61-$2.63 and expects organic sales growth of 6-7% and net sales growth of 19-20%.
P&G Delivers 8% Organic Sales Growth for the April-June Quarter; Drives Base ...finance3
P&G reported strong fiscal Q4 and full year results. Organic sales grew 8% in Q4 and 7% for the full year, ahead of targets. Base business EPS grew an estimated 17-21% in Q4 and 12-13% for the full year. Net earnings increased 36% in Q4 and 25% for the full year due to sales growth, margin improvement, and the Gillette acquisition. All business segments and regions increased organic sales and volume for both periods.
P&G Reports $0.98 EPS, Up 17%, on 9% Sales Growth; Announces Plan to Create S...finance3
P&G reported strong quarterly results with 9% sales growth and 17% EPS growth. They also announced plans to create a standalone coffee company called Folgers Coffee Company by spinning it off or splitting it off from P&G. The coffee business generated $1.6B in sales in 2007. All business segments saw sales growth, led by Beauty and Health Care. For fiscal 2008, P&G expects 4-6% organic sales growth and 14-15% EPS growth.
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidancefinance3
- P&G reported 15% earnings per share growth for the January-March quarter, above analysts' estimates, driven by strong organic sales growth despite a difficult operating environment.
- Net sales increased 10% to $14.29 billion for the quarter, with organic sales growth of 8%, above P&G's target range.
- As a result of the strong results, P&G raised its fiscal year earnings per share guidance range to $2.64 to $2.65.
This document is a press release from Cardinal Health announcing their fiscal 2008 results and fiscal 2009 outlook. Some key points:
- Fiscal 2008 revenue increased 5% to $91 billion and GAAP EPS increased 76% to $3.64. Non-GAAP EPS grew 11% to $3.80.
- The company is exploring a potential spin-off of their clinical and medical products businesses into a separate publicly traded company.
- For fiscal 2009, revenue is expected to grow 6-7% while non-GAAP EPS is expected to be between $3.80-$3.95, though investments in R&D and IT may impact near-term growth.
- Challenges in the
P&G Reports Fourth Quarter EPS of $0.92 and Operating Profit Growth of 13%, b...finance3
- P&G reported 4th quarter EPS of $0.92, a 37% increase, and operating profit growth of 13% behind balanced 5% organic sales and volume growth.
- For the fiscal year, net sales increased 9% to $83.5 billion and EPS grew 20% to $3.64, marking the 7th consecutive year of top-line growth meeting or exceeding targets.
- Segment results were mixed, with some like Beauty and Grooming seeing sales growth from new product launches and markets, while others like Health & Well-Being faced commodity cost pressures and market changes.
P&G Reports Strong Sales and Earnings Growth, Increases Fiscal Year Outlook finance3
P&G reported strong sales and earnings growth in the first quarter. Net sales increased 27% to $18.79 billion due to growth in both the base P&G business and the addition of Gillette. Organic sales grew 6% and earnings per share increased 3% to $0.79, though EPS growth excluding Gillette dilution was 9-10%. P&G increased its full-year earnings per share outlook due to better cost expectations and expects EPS growth of 13-14% for fiscal year 2007.
P&G Delivers 15% Earnings Per Share Growth for Fiscal Yearfinance3
P&G reported strong financial results for the April-June quarter and full fiscal year. Sales increased 10% for both periods, while earnings per share grew 12% and 15%, respectively. Unit volume grew 6% for the quarter and 8% for the full year, with double-digit growth in beauty and healthcare. All business segments, regions, and top 16 brands saw sales increases. Higher commodity costs posed challenges but were partially offset by pricing actions and cost savings.
P&G Reports 8% Net Sales and 22% EPS Growth in the Fourth Quarter finance3
The Procter & Gamble Company reported 8% net sales growth and 22% earnings per share growth in the fourth quarter. P&G also announced plans to repurchase $24-30 billion of company shares over the next three years through increased share buybacks of $8-10 billion annually. Every business segment grew organic sales for the fiscal year, led by high-single digit growth in blades and razors and fabric and home care. Chairman A.G. Lafley expressed confidence in P&G's strategies and ability to take advantage of growth opportunities.
P&G Delivers Results Above Expectations - Raises Fiscal Year Outlookfinance3
P&G reported financial results for the quarter ending December 2006 that were above expectations. Strong sales growth of P&G and newly acquired Gillette brands drove higher earnings per share despite costs associated with the Gillette acquisition. Net sales increased 27% to $18.34 billion due to a 27% increase in unit volume. Organic sales, excluding acquisitions and divestitures, grew 8%. Earnings per share were $0.72, in line with the prior year despite an estimated $0.06-$0.07 per share dilution from the Gillette acquisition. The company raised its full year earnings outlook based on the strong quarterly results and integration progress of Gillette.
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarterfinance3
Procter & Gamble reported a 16% increase in earnings per share for the July-September quarter. Sales increased 13% to $13.74 billion, with all regions growing sales at or above long-term targets. Unit volume grew 12% globally, led by a over 20% increase in developing markets. Diluted earnings per share were $0.73, up from $0.63 the previous year. The company expects earnings per share growth to continue for the fiscal year despite rising costs.
P&G Reports EPS of $0.92, up 16% Behind 8% Sales Growth finance3
P&G reported an 8% increase in quarterly sales to $20.2 billion and a 16% increase in earnings per share to $0.92. Every business segment achieved mid-single digit or higher sales growth led by Fabric & Home Care, Baby & Family Care, and Grooming. EPS growth was primarily due to strong sales growth and a 0.3% improvement in operating margin, excluding a one-time $0.02 per share tax benefit which increased the fiscal year EPS outlook. The company expects to deliver another year of broad growth across businesses and geographies.
- Sherwin-Williams reported a 1.5% increase in first quarter sales to a record $1.782 billion and EPS of $0.64, above guidance of $0.56 to $0.61.
- Global Group sales increased 14.8% due to volume gains, price increases, and acquisitions while Paint Stores Group sales declined 1.9% due to soft architectural paint and non-paint sales.
- The company expects Q2 EPS of $1.45 to $1.60 and reaffirms full year 2008 EPS guidance of $4.70 to $4.85, representing a low single digit increase in consolidated sales.
P&G Delivers Double-Digit Sales Growth in First Quarterfinance3
P&G reported double-digit sales growth in the first quarter, exceeding Wall Street earnings estimates. Unit volume grew 13% driven by double-digit growth in fabric and home care and health care. Net sales increased 11% to $10.8 billion. Core earnings per share grew 17% to $1.12 per share, beating consensus estimates by two cents. The company expects high single-digit volume growth and mid to upper single-digit sales growth in the second quarter. For the fiscal year, sales growth of 4-6% and double-digit earnings per share growth are expected.
Pfizer reported fourth-quarter 2008 revenues of $12.3 billion, down 4% from the previous year due to loss of exclusivity of certain drugs. Fourth-quarter net income was $266 million, down 90% from the prior year due to a $2.3 billion legal charge. For the full year, revenues were $48.3 billion, adjusted income was $16.4 billion, up 8%, and adjusted EPS was $2.42, up 11%. Pfizer announced a new cost reduction program targeting $2 billion in net savings by 2011.
SGS reports solid performance in H1 and confirms its full year guidance.
The SGS Group performed strongly in the first semester reporting total revenue of CHF 3.3 billion:
• Strong organic growth was achieved across the entire business portfolio, as the Group continues to build its offering to customers
• Total revenue increased by 6.5% (of which 5.6% organic) on a constant currency basis to CHF 3.3 billion
• Adjusted operating income grew 9.2% on a constant currency basis to CHF 481 million
• Adjusted operating income margin improved to 14.6%
• Minerals and Governments and Institutions achieved double-digit revenue growth of 13.8% and 11.1% respectively
• 7 acquisitions completed
• The Group paid a dividend of CHF 577 million
You can view our financial reports here: www.sgs.com/en/our-company/investor-relations/financial-reports
Bruker reported financial results for Q4 2016 and full year 2016. Q4 revenue declined 1.6% year-over-year to $470.3 million due to weak European academic orders and soft industrial markets, offset partially by acquisitions and growth in China. However, non-GAAP operating margin expanded 210 basis points to 19.6% and non-GAAP EPS grew 21% to $0.46 due to margin improvements. For full year 2016, revenue declined 0.8% to $1.611 billion but non-GAAP operating margin increased 150 basis points to 14.8% and non-GAAP EPS rose 34% to $1.19, driven by margin expansion despite revenue declines
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growthfinance3
- P&G reported 11% growth in diluted EPS to $0.82 driven by 9% net sales growth to $20.5 billion and 13% growth in operating profit. Volume grew 4% globally with 5% organic growth.
- Operating margin improved 0.6% through cost savings and synergies offsetting higher commodity costs. All segments saw sales growth with Beauty up 9% and Grooming up 13% on new product launches.
- The results demonstrated the benefits of P&G's diversification and focus on costs despite challenges, with cash flow well ahead of targets allowing $2.6 billion in share repurchases.
Bruker reported financial results for Q3 2018 and year-to-date Q3 2018. Q3 revenue increased 7.1% year-over-year to $466.6 million driven by 7% organic growth. Non-GAAP operating income grew 27% and margin expanded 280 basis points. Year-to-date revenue increased 8.6% to $1,342 million with organic growth of 4.7%. Non-GAAP EPS grew 28% in Q3 and 23% year-to-date as revenue growth and margin expansion drove higher profits. Bruker aims to continue revenue growth acceleration through initiatives like acquisitions and new facilities.
The document provides financial information for Profarma's 2Q17 earnings release. Key highlights include:
- Consolidated sales grew 6.7% year-over-year led by 55.4% growth in retail sales.
- Pharma distribution sales increased 3.9% with 10% growth in independent customer segment. Cash cycle was shortened by 16.8 days.
- Specialties sales grew 3.6% in 1H17 year-over-year with vaccine sales up 40.2% and generics category up 6.3%. Operating expenses declined 0.3 percentage points.
- Retail EBITDA margin improved compared to prior periods through expense optimization initiatives.
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook finance3
P&G reported strong sales and earnings growth for the third quarter of fiscal year 2007. Net sales increased 8% to $18.69 billion and earnings per share grew 17% to $0.74. Growth was driven by double-digit sales increases in several product categories. The company improved its full-year earnings per share outlook due to the strong quarterly results.
bristol myerd squibb Financial Results for the Fourth Quarter and Twelve Mont...finance13
Bristol-Myers Squibb reported strong financial results for the fourth quarter and full year 2008, driven by growth of key franchises and products. Fourth quarter sales increased 4% year-over-year to $5.2 billion. Gross profit margins improved due to cost improvements and favorable product mix. The company provided 2009 GAAP EPS guidance of $1.58 to $1.73 and non-GAAP EPS guidance of $1.85 to $2.00, expecting revenue and earnings growth. Bristol-Myers Squibb continued progress on productivity initiatives and business development deals to supplement its pipeline.
United Health Group[PDF Document] Earnings Releasefinance3
UnitedHealth Group reported first quarter 2008 results, with revenues increasing 7% to $20.3 billion and people served growing by 2 million to 73 million. Operating margin was 8.4% and net earnings per share grew 5% to $0.78. However, the company reduced its full-year 2008 outlook by 10% to a range of $3.55-$3.60 per share due to higher than expected medical costs and lower investment income. The company remains committed to $4 billion in share repurchases for 2008.
UnitedHealth Group reported third quarter 2008 results, with revenues of $20.2 billion, up 8% year-over-year. Net earnings were $0.75 per share. The medical care ratio increased 220 basis points to 81.7% due to premium rates rising more slowly than medical costs. Adjusted cash flows from operations were $2.4 billion, up from $2.1 billion in the prior year.
P&G Reports $0.98 EPS, Up 17%, on 9% Sales Growth; Announces Plan to Create S...finance3
P&G reported strong quarterly results with 9% sales growth and 17% EPS growth. They also announced plans to create a standalone coffee company called Folgers Coffee Company by spinning it off or splitting it off from P&G. The coffee business generated $1.6B in sales in 2007. All business segments saw sales growth, led by Beauty and Health Care. For fiscal 2008, P&G expects 4-6% organic sales growth and 14-15% EPS growth.
P&G Delivers 15% EPS Growth - Raises Fiscal Year Guidancefinance3
- P&G reported 15% earnings per share growth for the January-March quarter, above analysts' estimates, driven by strong organic sales growth despite a difficult operating environment.
- Net sales increased 10% to $14.29 billion for the quarter, with organic sales growth of 8%, above P&G's target range.
- As a result of the strong results, P&G raised its fiscal year earnings per share guidance range to $2.64 to $2.65.
This document is a press release from Cardinal Health announcing their fiscal 2008 results and fiscal 2009 outlook. Some key points:
- Fiscal 2008 revenue increased 5% to $91 billion and GAAP EPS increased 76% to $3.64. Non-GAAP EPS grew 11% to $3.80.
- The company is exploring a potential spin-off of their clinical and medical products businesses into a separate publicly traded company.
- For fiscal 2009, revenue is expected to grow 6-7% while non-GAAP EPS is expected to be between $3.80-$3.95, though investments in R&D and IT may impact near-term growth.
- Challenges in the
P&G Reports Fourth Quarter EPS of $0.92 and Operating Profit Growth of 13%, b...finance3
- P&G reported 4th quarter EPS of $0.92, a 37% increase, and operating profit growth of 13% behind balanced 5% organic sales and volume growth.
- For the fiscal year, net sales increased 9% to $83.5 billion and EPS grew 20% to $3.64, marking the 7th consecutive year of top-line growth meeting or exceeding targets.
- Segment results were mixed, with some like Beauty and Grooming seeing sales growth from new product launches and markets, while others like Health & Well-Being faced commodity cost pressures and market changes.
P&G Reports Strong Sales and Earnings Growth, Increases Fiscal Year Outlook finance3
P&G reported strong sales and earnings growth in the first quarter. Net sales increased 27% to $18.79 billion due to growth in both the base P&G business and the addition of Gillette. Organic sales grew 6% and earnings per share increased 3% to $0.79, though EPS growth excluding Gillette dilution was 9-10%. P&G increased its full-year earnings per share outlook due to better cost expectations and expects EPS growth of 13-14% for fiscal year 2007.
P&G Delivers 15% Earnings Per Share Growth for Fiscal Yearfinance3
P&G reported strong financial results for the April-June quarter and full fiscal year. Sales increased 10% for both periods, while earnings per share grew 12% and 15%, respectively. Unit volume grew 6% for the quarter and 8% for the full year, with double-digit growth in beauty and healthcare. All business segments, regions, and top 16 brands saw sales increases. Higher commodity costs posed challenges but were partially offset by pricing actions and cost savings.
P&G Reports 8% Net Sales and 22% EPS Growth in the Fourth Quarter finance3
The Procter & Gamble Company reported 8% net sales growth and 22% earnings per share growth in the fourth quarter. P&G also announced plans to repurchase $24-30 billion of company shares over the next three years through increased share buybacks of $8-10 billion annually. Every business segment grew organic sales for the fiscal year, led by high-single digit growth in blades and razors and fabric and home care. Chairman A.G. Lafley expressed confidence in P&G's strategies and ability to take advantage of growth opportunities.
P&G Delivers Results Above Expectations - Raises Fiscal Year Outlookfinance3
P&G reported financial results for the quarter ending December 2006 that were above expectations. Strong sales growth of P&G and newly acquired Gillette brands drove higher earnings per share despite costs associated with the Gillette acquisition. Net sales increased 27% to $18.34 billion due to a 27% increase in unit volume. Organic sales, excluding acquisitions and divestitures, grew 8%. Earnings per share were $0.72, in line with the prior year despite an estimated $0.06-$0.07 per share dilution from the Gillette acquisition. The company raised its full year earnings outlook based on the strong quarterly results and integration progress of Gillette.
Procter & Gamble Earnings Per Share Increase 16 Percent For Quarterfinance3
Procter & Gamble reported a 16% increase in earnings per share for the July-September quarter. Sales increased 13% to $13.74 billion, with all regions growing sales at or above long-term targets. Unit volume grew 12% globally, led by a over 20% increase in developing markets. Diluted earnings per share were $0.73, up from $0.63 the previous year. The company expects earnings per share growth to continue for the fiscal year despite rising costs.
P&G Reports EPS of $0.92, up 16% Behind 8% Sales Growth finance3
P&G reported an 8% increase in quarterly sales to $20.2 billion and a 16% increase in earnings per share to $0.92. Every business segment achieved mid-single digit or higher sales growth led by Fabric & Home Care, Baby & Family Care, and Grooming. EPS growth was primarily due to strong sales growth and a 0.3% improvement in operating margin, excluding a one-time $0.02 per share tax benefit which increased the fiscal year EPS outlook. The company expects to deliver another year of broad growth across businesses and geographies.
- Sherwin-Williams reported a 1.5% increase in first quarter sales to a record $1.782 billion and EPS of $0.64, above guidance of $0.56 to $0.61.
- Global Group sales increased 14.8% due to volume gains, price increases, and acquisitions while Paint Stores Group sales declined 1.9% due to soft architectural paint and non-paint sales.
- The company expects Q2 EPS of $1.45 to $1.60 and reaffirms full year 2008 EPS guidance of $4.70 to $4.85, representing a low single digit increase in consolidated sales.
P&G Delivers Double-Digit Sales Growth in First Quarterfinance3
P&G reported double-digit sales growth in the first quarter, exceeding Wall Street earnings estimates. Unit volume grew 13% driven by double-digit growth in fabric and home care and health care. Net sales increased 11% to $10.8 billion. Core earnings per share grew 17% to $1.12 per share, beating consensus estimates by two cents. The company expects high single-digit volume growth and mid to upper single-digit sales growth in the second quarter. For the fiscal year, sales growth of 4-6% and double-digit earnings per share growth are expected.
Pfizer reported fourth-quarter 2008 revenues of $12.3 billion, down 4% from the previous year due to loss of exclusivity of certain drugs. Fourth-quarter net income was $266 million, down 90% from the prior year due to a $2.3 billion legal charge. For the full year, revenues were $48.3 billion, adjusted income was $16.4 billion, up 8%, and adjusted EPS was $2.42, up 11%. Pfizer announced a new cost reduction program targeting $2 billion in net savings by 2011.
SGS reports solid performance in H1 and confirms its full year guidance.
The SGS Group performed strongly in the first semester reporting total revenue of CHF 3.3 billion:
• Strong organic growth was achieved across the entire business portfolio, as the Group continues to build its offering to customers
• Total revenue increased by 6.5% (of which 5.6% organic) on a constant currency basis to CHF 3.3 billion
• Adjusted operating income grew 9.2% on a constant currency basis to CHF 481 million
• Adjusted operating income margin improved to 14.6%
• Minerals and Governments and Institutions achieved double-digit revenue growth of 13.8% and 11.1% respectively
• 7 acquisitions completed
• The Group paid a dividend of CHF 577 million
You can view our financial reports here: www.sgs.com/en/our-company/investor-relations/financial-reports
Bruker reported financial results for Q4 2016 and full year 2016. Q4 revenue declined 1.6% year-over-year to $470.3 million due to weak European academic orders and soft industrial markets, offset partially by acquisitions and growth in China. However, non-GAAP operating margin expanded 210 basis points to 19.6% and non-GAAP EPS grew 21% to $0.46 due to margin improvements. For full year 2016, revenue declined 0.8% to $1.611 billion but non-GAAP operating margin increased 150 basis points to 14.8% and non-GAAP EPS rose 34% to $1.19, driven by margin expansion despite revenue declines
P&G Reports $0.82 EPS, Up 11%, On 13% Operating Profit Growthfinance3
- P&G reported 11% growth in diluted EPS to $0.82 driven by 9% net sales growth to $20.5 billion and 13% growth in operating profit. Volume grew 4% globally with 5% organic growth.
- Operating margin improved 0.6% through cost savings and synergies offsetting higher commodity costs. All segments saw sales growth with Beauty up 9% and Grooming up 13% on new product launches.
- The results demonstrated the benefits of P&G's diversification and focus on costs despite challenges, with cash flow well ahead of targets allowing $2.6 billion in share repurchases.
Bruker reported financial results for Q3 2018 and year-to-date Q3 2018. Q3 revenue increased 7.1% year-over-year to $466.6 million driven by 7% organic growth. Non-GAAP operating income grew 27% and margin expanded 280 basis points. Year-to-date revenue increased 8.6% to $1,342 million with organic growth of 4.7%. Non-GAAP EPS grew 28% in Q3 and 23% year-to-date as revenue growth and margin expansion drove higher profits. Bruker aims to continue revenue growth acceleration through initiatives like acquisitions and new facilities.
The document provides financial information for Profarma's 2Q17 earnings release. Key highlights include:
- Consolidated sales grew 6.7% year-over-year led by 55.4% growth in retail sales.
- Pharma distribution sales increased 3.9% with 10% growth in independent customer segment. Cash cycle was shortened by 16.8 days.
- Specialties sales grew 3.6% in 1H17 year-over-year with vaccine sales up 40.2% and generics category up 6.3%. Operating expenses declined 0.3 percentage points.
- Retail EBITDA margin improved compared to prior periods through expense optimization initiatives.
P&G Reports Strong Sales and EPS Growth -- Increases Fiscal Year Outlook finance3
P&G reported strong sales and earnings growth for the third quarter of fiscal year 2007. Net sales increased 8% to $18.69 billion and earnings per share grew 17% to $0.74. Growth was driven by double-digit sales increases in several product categories. The company improved its full-year earnings per share outlook due to the strong quarterly results.
bristol myerd squibb Financial Results for the Fourth Quarter and Twelve Mont...finance13
Bristol-Myers Squibb reported strong financial results for the fourth quarter and full year 2008, driven by growth of key franchises and products. Fourth quarter sales increased 4% year-over-year to $5.2 billion. Gross profit margins improved due to cost improvements and favorable product mix. The company provided 2009 GAAP EPS guidance of $1.58 to $1.73 and non-GAAP EPS guidance of $1.85 to $2.00, expecting revenue and earnings growth. Bristol-Myers Squibb continued progress on productivity initiatives and business development deals to supplement its pipeline.
United Health Group[PDF Document] Earnings Releasefinance3
UnitedHealth Group reported first quarter 2008 results, with revenues increasing 7% to $20.3 billion and people served growing by 2 million to 73 million. Operating margin was 8.4% and net earnings per share grew 5% to $0.78. However, the company reduced its full-year 2008 outlook by 10% to a range of $3.55-$3.60 per share due to higher than expected medical costs and lower investment income. The company remains committed to $4 billion in share repurchases for 2008.
UnitedHealth Group reported third quarter 2008 results, with revenues of $20.2 billion, up 8% year-over-year. Net earnings were $0.75 per share. The medical care ratio increased 220 basis points to 81.7% due to premium rates rising more slowly than medical costs. Adjusted cash flows from operations were $2.4 billion, up from $2.1 billion in the prior year.
UnitedHealth Group reported financial results for Q4 2008 and full year 2008. Revenues for 2008 exceeded $81 billion, up 8% from 2007. Adjusted net earnings per share were $2.95 for 2008 and $0.78 for Q4 2008. Cash flows from operations were $1.6 billion for Q4 2008 and $4.8 billion for 2008. The company expects 2009 net earnings in the range of $2.90 to $3.15 per share.
Strong Volume and Operating Margin Improvements Drive Earnings Growthfinance3
P&G reported strong financial results for the quarter ended December 31, 2002, with unit volume growth of 8% and core earnings per share growth of 10%. Volume growth was driven by double-digit increases in health care and beauty care. Gross margins expanded 140 basis points due to base business savings and lower material costs. For the fiscal year, P&G expects sales growth at the top end of its 4-6% target range and earnings per share growth of 12-13%.
UnitedHealth Group reported strong financial results for the first quarter of 2009. Revenues increased 8% year-over-year to $22 billion driven by growth in risk-based offerings. Net earnings of $0.81 per share were up 4% year-over-year. Cash flows from operations more than tripled to $1.1 billion. The company continues to project full-year 2009 net earnings of $2.90 to $3.15 per share and cash flows from operations of approximately $5 billion.
P&G Delivers Double-Digit Earnings Growth on Strong Top Line Resultsfinance3
- P&G reported strong sales and earnings growth in the third quarter, with sales up 22% and earnings per share up 20%, driven by double-digit organic volume growth across all business segments.
- Net sales increased 22% to $13.03 billion due to a 12% increase in organic volume and 5% benefit from foreign exchange. Earnings per share increased 14% compared to the prior year period excluding restructuring charges.
- For the fourth quarter, P&G expects organic volume growth of around 10% and high teens sales growth, with operating margin declining due to the inclusion of the Wella acquisition.
Merck reported double-digit revenue and earnings-per-share growth for Q3 2007. Revenue grew 12% to $6.1 billion driven by strong sales of key products like SINGULAIR, JANUVIA, GARDASIL and VARIVAX. EPS for Q3 2007 was $0.75 excluding restructuring charges. Merck also gained FDA approval for its HIV treatment ISENTRESS and raised full-year 2007 EPS guidance to a range of $3.08 to $3.14 excluding restructuring charges.
United Health GroupForm 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported record revenues and earnings for full-year 2007, with revenues surpassing $75 billion. Earnings from operations grew 15% to $8.03 billion. Adjusted earnings per share increased 18% to $3.50. Cash flows from operations were $5.88 billion, or 126% of net earnings. The medical care ratio improved to 80.6% from 81.2% in 2006. UnitedHealth Group expects earnings per share growth of 13-14% in 2008 to $3.95-$4.00 per share, with cash flows approaching $7 billion.
aetna Download Documentation Earnings Release and Tables2008 1stfinance9
Aetna reported first quarter 2008 results, with operating earnings of $0.92 per share, a 14% increase over the prior year quarter. Total revenue increased 16% to $7.7 billion due to membership growth and premium rate increases. Medical membership increased by 614,000 to 17.5 million. Aetna affirmed its full-year 2008 operating earnings guidance of $4.00 per share and projected medical membership growth of 850,000-900,000 members.
Pfizer reported fourth-quarter 2008 revenues of $12.3 billion, down 4% from the previous year due to loss of exclusivity of certain drugs. Fourth-quarter net income was $266 million, down 90% from the prior year due to a $2.3 billion legal charge. For the full year, revenues were $48.3 billion, adjusted income was $16.4 billion, up 8%, and adjusted EPS was $2.42, up 11%. Pfizer announced a new cost reduction program targeting $2 billion in net savings by 2011.
Merck reported strong financial results for the first quarter of 2007. Worldwide sales increased 7% compared to the first quarter of 2006. Key products such as SINGULAIR, vaccines including GARDASIL, and the cholesterol drugs ZETIA and VYTORIN drove company growth. Merck anticipates second quarter EPS between $0.67-$0.71 and reaffirmed its full-year 2007 EPS guidance range.
P&G Delivers Earnings Growth at High End of Guidancefinance3
P&G reported strong earnings growth for the quarter, with net earnings up 23% and core earnings per share up 14%. Unit volume grew 7% overall and even higher in some business segments like health care which saw 18% growth. All business segments saw sales and earnings increases except snacks and beverages. Looking ahead, P&G expects sales growth of mid to high single digits for the next quarter and core earnings per share growth of 10-12%.
P&G Beats First Quarter Earnings Expectations on Record Volume and Salesfinance3
P&G reported strong financial results for the first quarter that beat analysts' expectations. Volume, sales, and earnings all grew by double digits compared to the previous year. Net sales increased 13% to $12.2 billion due to strong volume growth across all business segments. Net earnings grew 20% to $1.76 billion, driven by volume growth and lower costs despite increased marketing investments. The company expects continued strong performance for the remainder of the fiscal year.
Merck reported double-digit earnings per share growth for the second quarter of 2007, driven by strong performance of key products. EPS excluding restructuring charges were $0.82, up 12% from the prior year. Sales increased 6% to $6.1 billion for the quarter. Merck raised its full-year 2007 EPS guidance to a range of $3.00 to $3.10 excluding restructuring charges. Best-selling products like Singulair, Januvia, and vaccines contributed significantly to revenue growth.
P&G reported strong earnings growth that exceeded expectations for the quarter and fiscal year. Net earnings for the quarter grew 5% to $955 million driven by top line growth and margin improvements. For the fiscal year, net earnings increased 19% to $5.19 billion behind 8% sales growth and gross margin expansion. Looking forward, P&G expects continued double-digit earnings growth in fiscal year 2004 from high single-digit sales growth and margin improvements.
P&G Delivers 16 Percent Earnings Per Share Growth For June Quarter And 14 Per...finance3
P&G delivered strong financial results for the June quarter and fiscal year, with earnings per share growing 16% and 14% respectively. Key drivers included 10% organic volume growth for both periods across all business segments and regions. Net sales increased 19% for the quarter and year, with 8% organic growth both periods. Earnings per share growth was achieved through volume growth, cost savings programs, and restructuring charges in the prior year. For fiscal year 2005, P&G expects continued strong top-line growth and double-digit earnings growth per share.
United Health Group [PDF Document] Earnings Releasefinance3
UnitedHealth Group reported financial results for the fourth quarter and full year 2006. Fourth quarter revenues exceeded $18.1 billion, a 47% increase over the previous year. Full year revenues reached $71.68 billion, a 54% increase. Net earnings for the fourth quarter were $1.2 billion and $4.174 billion for the full year. The company affirmed projected 2007 net income in the range of $4.7-4.75 billion, including $980 million to $1 billion in Q1 2007.
- Unisys Corporation reported first quarter 2007 financial results and continued progress in its multi-year repositioning program, with net income of $3.6 million compared to a net loss of $27.9 million in first quarter 2006.
- The company took restructuring charges of $32.7 million in the first quarter of 2007 to reduce headcount by about 950 employees as part of ongoing cost reduction efforts, and plans an additional $35 million charge in second quarter 2007 related to further facility consolidations and workforce reductions.
- Revenue for the quarter decreased 3% to $1.35 billion from $1.39 billion in first quarter 2006, with services orders showing a double-digit decrease though
Procter & Gamble Beats Earnings Expectations for Quarter - Raises Outlook for...finance3
Procter & Gamble reported strong earnings for the quarter that exceeded analysts' expectations. Net sales increased 9% to $14.45 billion and earnings per share grew 14% to $0.74. All business units saw mid-single digit or greater volume growth. The company raised its earnings guidance for the fiscal year, now expecting earnings per share growth of 13-14%. P&G will host a meeting for analysts and investors on January 28th to discuss second quarter results.
Similar to bristol myerd squibb Bristol-Myers Squibb Company Reports First Quarter 2008 Financial Results (20)
capital oneCapital One Financial Corp. Shareholders Meeting Presentationfinance13
The annual stockholder meeting document discusses Capital One's performance in 2007 and the challenges facing the banking industry. It notes that 2007 was the first year Capital One saw a decline in earnings per share. It also discusses the housing market correction and its prolonged negative impact. Additionally, it provides context on Capital One's deposit size, making it the 13th largest deposit-taking bank in the US.
capital oneLehman Brothers Eleventh Annual Lehman Financial Services Conferen...finance13
- Capital One is a top 10 bank and 14th largest depository institution in the US with $87.6B in deposits as of Q4 2007. It is also the 5th largest credit card issuer.
- Capital One is a diversified bank that is now primarily funded by deposits, with deposits comprising 47% of its managed liabilities as of Q4 2007, compared to other major banks that are more reliant on unsecured debt and securitizations.
- The presentation discusses Capital One's business overview, competitive positioning, and funding sources. Forward-looking statements are provided but subject to various risk factors that could cause actual results to differ materially.
capital oneSanford C. Bernstein & Co. Strategic Decisions Conference Presenta...finance13
This document discusses Capital One's approach to risk management and positioning for economic cycles. It notes that Capital One has transformed into a diversified bank with significant deposit funding. Capital One assumes recessions and degradation in underwriting and saves repricing for safety and soundness rather than assuming good times will continue. The document also discusses how different lending segments such as credit cards have performed relative to others such as auto loans during past economic downturns.
capital one Keefe, Bruyette & Woods, Inc. Diversified Financial Services Conf...finance13
Capital One is a top 10 bank and 5th largest credit card issuer. It has seen weakening credit metrics that reflect the deteriorating US economy. The company increased its loan loss allowance by $310M in Q108 to prepare for expected losses. While credit costs rose, increased revenue margins largely offset the impact. Capital One continues efficiency initiatives and managing its balance sheet to sustain profitability despite credit headwinds.
capital one Q2 2008 Capital One Financial Earnings Conference Call Presentationfinance13
Capital One reported second quarter 2008 results. Diluted EPS from continuing operations was $1.24, down from the prior quarter and year due to higher provision expense and lower revenue. Credit performance was largely in line with expectations, with managed charge-offs at 4.15% and delinquencies at 3.56%. Tighter underwriting led to portfolio contraction. The balance sheet remains strong with increased deposits and liquidity.
capital one Lehman Conference Presentationfinance13
Capital One provides a presentation on its financial performance and positioning. It discusses (1) executing on its vision of national lending and local banking, (2) delivering an operating profit of $463M despite significant credit headwinds, and (3) decisions that position it to navigate cyclical challenges and deliver value over the cycle through resilient businesses, conservative risk management, and lower lending lines.
capital one Q3 2008 Capital One Financial Earnings Conference Call Presentationfinance13
Capital One reported third quarter 2008 results with the following highlights:
1) Diluted EPS from continuing operations was $1.03, down from $1.21 in the third quarter of 2007 driven by higher provision expense.
2) Credit performance was largely in line with expectations, with managed charge-off and delinquency rates up from the previous quarter.
3) The balance sheet and diversified funding remained strong, with available liquidity of $32 billion and deposit growth of $6 billion from the previous quarter.
capital one Capital One Acquisition of Chevy Chase Bankfinance13
Capital One announced the acquisition of Chevy Chase Bank for $520 million. Chevy Chase has $11.6 billion in deposits and is the #1 bank in the Washington D.C. market. The acquisition enhances Capital One's local banking business and deposit funding. It is expected to be financially attractive with an estimated 13% internal rate of return and accretion to earnings per share in 2009 and 2010. Capital One took a $1.75 billion net credit mark on Chevy Chase's loans to mitigate credit risks.
capital one Printer Friendly Version of the Press Releasefinance13
Capital One reported a net loss for 2008 due to a large goodwill impairment in its Auto Finance business. It added $1 billion to loan loss reserves due to expectations of increasing losses. Credit performance deteriorated in the fourth quarter as the recession deepened. Deposits grew over 30% from the previous year and 10% in the last quarter.
capital one Printer Friendly Version of the Financial Supplementfinance13
This document provides quarterly and annual financial and statistical data for Capital One Financial Corporation for 2008 and Q4 2007. Some key highlights include:
- For Q4 2008, Capital One reported a net loss of $1.42 billion compared to net income of $226.6 million in Q4 2007. Revenue declined 38% annually and the company reported an ROA of -3.45%.
- On a managed basis, which includes securitized assets, Q4 2008 net loss was $1.42 billion, revenue declined 25% annually, and ROA was -2.70%.
- Asset quality deteriorated with the net charge-off rate rising to 4.98% in Q4 2008
capital onePrinter Friendly Version of the Conference Call Presentationfinance13
- Fourth quarter 2008 results showed a loss due to higher provision expense and a goodwill write-down. The losses were driven by deterioration in credit performance as economic conditions worsened.
- Credit losses and delinquency rates increased across all lending segments as unemployment rose. The allowance for loan losses was increased substantially.
- Deposits grew significantly while margins declined due to credit costs and mix shift to lower-yielding assets. Expenses declined due to cost management efforts.
- An impairment charge was taken for goodwill in the Auto Finance segment. The balance sheet and liquidity remain strong despite the difficult environment.
This document is Capital One's 1996 Annual Report. It summarizes that in 1996, Capital One achieved record financial results including net income increasing 23% to $155.3 million and managed loans increasing 23% to $12.8 billion. Capital One's success is driven by its proprietary information-based strategy which allows it to customize products, manage risk conservatively, and continuously innovate. The company added nearly 2,000 employees in 1996 and remains focused on testing new products.
Capital One had a remarkable year in 1997, setting records for financial and operating performance. They added 3.2 million new customers, ending the year with 11.7 million accounts. Capital One's success demonstrates the power of their information-based strategy and innovation. Going forward, they see opportunity for continued growth in the US and internationally by applying their strategy of mass customization.
Capital One Financial Corporation's 1998 Annual Report summarizes the company's strong financial performance in 1998. Capital One saw record growth across key metrics such as earnings per share, revenue, managed loans, and number of customer accounts. The company achieved net income of $275 million, a 45% increase over 1997. Capital One's success is powered by its Information-Based Strategy of using technology, data analysis, and scientific testing to customize financial products for each customer. This strategy has allowed the company to rapidly innovate and gain market share in the credit card industry.
Capital One Financial Corporation's 1999 Annual Report highlights the company's explosive growth over the past 5 years since its IPO, including doubling its customer base to 24 million and increasing revenues 512% between 1994 and 1999. The report discusses Capital One's continued focus on its information-based strategy of testing new ideas, customizing products for customers, and driving innovation to build one of the world's truly great companies with sustained financial performance and customer satisfaction. Key metrics show earnings per share and return on equity growth above 20% for the fifth consecutive year.
This annual report summarizes Capital One's growth and success in 2000. Some key points:
- Capital One has grown rapidly since its IPO in 1994, becoming one of the fastest growing and most profitable companies in the US.
- Through its proprietary information-based strategy (IBS), Capital One has created innovative credit card and loan products tailored to individual customers, reducing risk while delivering value.
- In 2000, Capital One added a record 10 million new customers, conducted over 45,000 tests of new ideas, and invested over $900 million in marketing.
- Capital One aims to continue its strong growth by expanding its product lines and customer base internationally, and by building its brand through advertising and
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
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TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
bristol myerd squibb Bristol-Myers Squibb Company Reports First Quarter 2008 Financial Results
1. STRONG DOUBLE-DIGIT NET SALES GROWTH AND SOLID EARNINGS GROWTH
HIGHLIGHT FIRST QUARTER FOR BRISTOL-MYERS SQUIBB COMPANY
• Reports Broad-Based Net Sales Growth of 20% from Continuing Operations Driven
by Strong Performance of Pharmaceutical Business
• Records Pre-Tax Earnings from Continuing Operations of $1.3 Billion Representing
an Increase of 51% From First Quarter 2007
• Posts First Quarter 2008 GAAP EPS from Continuing Operations of $0.35
Compared to $0.33 in 2007 and Double-Digit Non-GAAP EPS Growth from
Continuing Operations of $0.42 Compared to $0.36 in 2007
• Reaffirms 2008 EPS Guidance and 2007-2010 Expected 15% Non-GAAP EPS
CAGR
• Announces Plan to File Initial Public Offering of Approximately 10% of Mead
Johnson Nutritionals
(NEW YORK, April 24, 2008) – Bristol-Myers Squibb Company (NYSE:BMY) today reported
strong double-digit net sales growth and solid earnings growth for the first quarter 2008 and reaffirmed
2008 earnings guidance.
“Our medicines are performing well, as was evident this quarter, and our pipeline is steadily
advancing. This is good news for patients and healthcare professionals who count on us, as well as
shareholders who invest in us,” said James M. Cornelius, chairman and chief executive officer, Bristol-
Myers Squibb. “As we have pledged to patients and investors, we remain focused on discovering and
developing medicines that will help people prevail in their fight against serious disease. We continue to
review options within our “String of Pearls” strategy, to further complement our existing pipeline,
technology and talent pool.
“We also continue to invest in our business as we embed a mindset of continuous improvement,
which is helping us grow our profit margins. Our strong first quarter performance and our focus on
execution put us on the right track for continued growth in 2008.”
1
2. UPDATE ON STRATEGIC REVIEW OF NON-PHARMACEUTICAL BUSINESSES
Bristol-Myers Squibb completed the sale of Bristol-Myers Squibb Medical Imaging to Avista
Capital Partners in January 2008 for approximately $525 million.
The company has made significant progress on a strategic direction for ConvaTec and expects to
provide updates in the near future.
Bristol-Myers Squibb currently plans to file a registration statement by year-end to sell
approximately 10 percent and no more than 20 percent of Mead Johnson Nutritionals to the public
through an initial public offering and to retain at least an 80% equity interest in Mead Johnson
Nutritionals as part of the overall business portfolio for the foreseeable future. After extensively
considering strategic options, management believes this plan will allow Mead Johnson Nutritionals to
implement its growth plans, increase shareholder value, and maintain its important financial contribution
to Bristol-Myers Squibb. The execution of the plan is dependent upon and subject to a number of factors
and uncertainties including business and market conditions.
FIRST QUARTER RESULTS
• Bristol-Myers Squibb posted first quarter 2008 net sales from continuing operations of $5.2 billion,
an increase of 20% compared to the same period in 2007, driven by increased pharmaceutical net
sales which totaled $4.2 billion in the first quarter of 2008. The net sales growth included a 9%
increase from product performance and a 5% favorable foreign exchange impact. Sales growth was
also estimated to be 6% favorably impacted by the residual sales of generic clopidogrel bisulfate in
the first quarter of 2007, after which time the generic inventory in the distribution channels was
substantially depleted. U.S. net sales from continuing operations increased 23% to $2.9 billion for
the quarter compared to first quarter 2007, primarily due to the continued growth of ABILIFY® and
increased sales of PLAVIX®, as well as strong results from the HIV and hepatitis portfolio and
increased contribution from recent launches. International net sales from continuing operations
increased 16% to $2.3 billion, including a 12% favorable foreign exchange impact.
• The company recorded earnings from continuing operations before minority interest and income
taxes of $1,290 million in the first quarter of 2008, an increase of 51% compared to $852 million in
the same period in 2007. The increase was driven by strong product performance in the
pharmaceutical business.
2
3. • On a GAAP basis, the company reported first quarter 2008 net earnings from continuing operations
of $701 million, or $0.35 per diluted share, compared to net earnings from continuing operations of
$643 million or $0.33 per diluted share for the same period in 2007. The 2008 operating results
include charges of $113 million associated with the implementation of the previously announced
Productivity Transformation Initiative (PTI), while the 2007 results included a lower tax rate of
8.0% reflecting a tax benefit due to a favorable resolution of certain tax matters. On a non-GAAP
basis excluding specified items, first quarter 2008 net earnings from continuing operations were
$842 million, or $0.42 per diluted share, compared to $697 million, or $0.36 per diluted share for the
same period in 2007.
• Cost of products sold, as a percentage of net sales, increased to 32.0% in the first quarter of 2008
compared to 31.0% in the same period in 2007. Costs of products sold include manufacturing
rationalization charges of $96 million, or 1.9% of net sales, related to implementation of the PTI in
2008, compared to $16 million, or 0.4% of net sales, in 2007. Excluding these charges, gross margin
improved due to a favorable pharmaceutical product mix.
• Marketing, selling and administrative expenses increased by 8% to $1.2 billion in the first quarter of
2008 compared to the same period in 2007, primarily due to unfavorable foreign exchange impact
and higher selling expenses in support of key products. General and administrative expenses
decreased from 2007 levels resulting from the company’s ongoing productivity initiatives, offset by
implementation costs of the initiatives.
• Advertising and product promotion spending increased by 23% to $330 million in the first quarter of
2008 from $268 million in the same period in 2007, primarily due to increased promotion of new
indications for ABILIFY® in the United States and Europe and increased investment to support
®
PLAVIX® and ORENCIA .
• Research and development expenses increased 1% to $795 million in the first quarter of 2008 from
$791 million in the same period in 2007. The increase primarily reflects increased development
spending for pipeline compounds partially offset by higher licensing upfront payments in 2007.
3
4. INCOME TAX
The effective tax rate on earnings from continuing operations before minority interest and
income taxes was 27.8% for the three months ended March 31, 2008, compared with 8.0% in the first
quarter of 2007. The first quarter 2007 effective tax rate included $105 million of benefit due to a
favorable resolution of certain tax matters, including a $39 million benefit related to a 2006 specified
item. The company expects the full year 2008 non-GAAP effective tax rate from continuing operations
to be in line with the previously issued guidance of approximately 24%.
SPECIFIED ITEMS
In the three months ended March 31, 2008 and 2007, the company recorded specified income
and expense items that affected the comparability of the results. This included first quarter 2008 charges
of $113 million in connection with the execution of the previously announced PTI and $25 million
related to an additional impairment of the company’s investments in auction rate securities that were
previously impaired.
For information on specified items, see Appendix 1. Details reconciling these non-GAAP
amounts with GAAP amounts including specified items are provided in Appendix 1 attached and in
supplemental materials available on the company’s website.
PHARMACEUTICAL BUSINESS PERFORMANCE
U.S. pharmaceutical sales increased 26% to $2.5 billion in the first quarter of 2008 compared to
the same period in 2007, primarily due to the continued growth of ABILIFY® and increased sales of
PLAVIX®, as well as strong results from the HIV and hepatitis portfolio and increased contribution
from recent launches.
International pharmaceutical sales increased 14%, including a 12% favorable foreign exchange
impact, to $1.7 billion in the first quarter of 2008 compared to the same period in 2007. The increase
was primarily due to strong results from ABILIFY® and increased contribution from recent launches
®
including BARACLUDE and SPRYCEL™, partially offset by continued generic erosion of
PRAVACHOL® and TAXOL®. The company’s reported international sales do not include copromotion
4
5. sales reported by its alliance partner, sanofi-aventis, for PLAVIX® and AVAPRO®/AVALIDE®, which
continue to show growth in the first quarter of 2008.
Sales of PLAVIX®, a platelet aggregation inhibitor that is part of the company’s alliance with
•
sanofi-aventis increased 39% to $1,308 million in the first quarter of 2008, from $938 million in the
same period in 2007. Sales of PLAVIX® increased in the U.S. to $1,139 million in the first quarter
of 2008 from $787 million in the same period in 2007. The comparison to the first quarter 2007
sales reflects the adverse impact of generic competition for PLAVIX® in 2007, which the company
estimates to be in the range of $200 million to $250 million. Estimated total U.S. prescription
demand for clopidogrel bisulfate (branded and generic) increased by 4% in the first quarter of 2008
compared to 2007. Estimated total U.S. prescription demand for branded PLAVIX® increased by
78% in the same period.
Total revenue for ABILIFY®, an agent for the treatment of schizophrenia, bipolar disorders and
•
major depressive disorder, increased 24% to $454 million in the first quarter of 2008 from $366
million in the same period in 2007. U.S. sales increased 19% to $348 million in the first quarter
2008 from $293 million in the same period in 2007, primarily due to higher demand. Estimated total
U.S. prescription demand increased approximately 14% compared to the same period last year.
International sales increased 45%, including a 16% favorable foreign exchange impact, to $106
million in the first quarter of 2008 from $73 million in the same period in 2007, due to continued
growth across European markets. Total revenue for ABILIFY® primarily consists of alliance
revenue representing the company’s 65% share of net sales in countries where it copromotes with
Otsuka Pharmaceutical Co., Ltd.
Sales of AVAPRO®/AVALIDE®, an angiotensin II receptor blocker for the treatment of
•
hypertension, also part of the sanofi-aventis alliance, increased 13%, including a 6% favorable
foreign exchange impact, to $305 million in the first quarter of 2008 from $270 million in the same
period in 2007. U.S. sales increased 7% to $174 million in the first quarter of 2008 from $163
million in the same period in 2007 primarily due to higher average net selling prices, partially offset
by lower demand. Estimated total U.S. prescription demand decreased approximately 7% compared
to 2007. International sales increased 22%, including a 14% favorable foreign exchange impact, to
$131 million compared to $107 million in the same period in 2007.
5
6. Sales of REYATAZ®, a protease inhibitor for the treatment of HIV, increased 13% to $297 million
•
in the first quarter of 2008 from $263 million in the same period in 2007. U.S. sales increased 12%
to $160 million in the first quarter of 2008 from $143 million in the same period in 2007, primarily
due to higher demand. Estimated total U.S. prescription demand increased approximately 12%
compared to the same period in 2007. International sales increased 14%, including an 11% favorable
foreign exchange impact, to $137 million in the first quarter of 2008 from $120 million in the same
period in 2007.
Sales of the SUSTIVA® Franchise, a non-nucleoside reverse transcriptase inhibitor for the treatment
•
of HIV, increased 21% to $273 million in the first quarter of 2008 from $226 million in the same
period in 2007. U.S. sales increased 22% to $175 million in the first quarter of 2008 from $144
million in the same period in 2007, primarily due to higher demand for ATRIPLATM. Estimated total
U.S. prescription demand increased approximately 15% compared to 2007. International sales
increased 20%, including an 11% favorable foreign exchange impact, to $98 million in the first
quarter of 2008 from $82 million in the same period in 2007. Total revenue for the SUSTIVA®
Franchise includes sales of SUSTIVA®, as well as revenue from bulk efavirenz included in the
combination therapy ATRIPLATM, which is sold through a joint venture in the U.S., Canada and
Europe with Gilead Sciences, Inc.
®
• Sales of BARACLUDE , an oral antiviral agent for the treatment of chronic hepatitis B, increased
140% to $108 million in the first quarter of 2008 from $45 million in the same period in 2007, due to
continued growth across all markets.
®
• Sales of ORENCIA , a fusion protein indicated for rheumatoid arthritis, increased 112% to $87
million in the first quarter of 2008 from $41 million in the same period in 2007, primarily due to
strong growth in the U.S.
Sales of ERBITUX®, which is sold by the company almost exclusively in the U.S., increased 17% to
•
$187 million in the first quarter of 2008 from $160 million in the same period in 2007, due to growth
in the use for head and neck and colorectal cancer. ERBITUX® is marketed by the company under a
distribution and copromotion agreement with ImClone Systems Incorporated.
6
7. • Sales for SPRYCEL™, an oral inhibitor of multiple tyrosine kinases and indicated for treatment of
chronic myeloid leukemia, increased to $66 million in the first quarter of 2008 from $21 million in
the same period in 2007. This growth was driven by additional launches in various international
markets as well as growth in the U.S.
• Sales of IXEMPRA™, a microtubule inhibitor for the treatment of patients with metastatic or locally
advanced breast cancer, were $25 million in the first quarter of 2008. IXEMPRA™ was launched in
the U.S. in October 2007.
MEAD JOHNSON NUTRITIONALS, CONVATEC PERFORMANCE
MEAD JOHNSON NUTRITIONALS
• Worldwide Nutritional sales increased 16%, including a 5% favorable foreign exchange impact, to
$703 million in the first quarter of 2008 from $606 million in the same period in 2007. U.S.
Nutritional sales increased 5% to $288 million in the first quarter of 2008 from $274 million in the
®
same period in 2007 primarily due to increased sales of ENFAMIL . International Nutritional sales
increased 25% to $415 million in the first quarter of 2008, including a 10% favorable foreign
exchange impact, due to growth in both infant formulas and children’s nutritionals.
CONVATEC
• Worldwide ConvaTec sales increased 14%, including a 7% favorable foreign exchange impact, to
$290 million in the first quarter of 2008 from $254 million in the same period in 2007 due to growth
in both the wound therapeutics and ostomy businesses.
PIPELINE DEVELOPMENTS
The company continues to advance a robust pipeline and expects to submit a U.S. regulatory
filing for the diabetes medicine, saxagliptin, in mid-2008. New scientific data on marketed products and
compounds in development are scheduled to be presented at upcoming meetings of the American
Diabetes Association and the American Society of Clinical Oncology.
7
8. In February, a supplemental New Drug Application for ABILIFY® was approved by the U.S.
Food and Drug Administration (FDA) for the acute treatment of manic and mixed episodes associated
with Bipolar I Disorder, with or without psychotic features in pediatric patients (10 to 17 years old). In
March, the European Commission authorized marketing of ABILIFY® in the treatment of moderate to
severe manic episodes in Bipolar I Disorder and for the prevention of a new manic episode in patients
who experienced predominantly manic episodes and whose manic episodes responded to ABILIFY®
treatment.
At the Asian Pacific Association for the Study of the Liver meeting in March, new data
®
demonstrated a continued low incidence of resistance to BARACLUDE in nucleoside-naive patients
through five years of treatment, which is important for many chronic hepatitis B patients requiring long-
®
term treatment. BARACLUDE is indicated for the treatment of chronic hepatitis B.
®
In April, ORENCIA was approved by the FDA for treatment of juvenile rheumatoid arthritis.
® ®
Additionally, the U.S. label for ORENCIA was revised with an indication that means ORENCIA is
an appropriate option for patients with moderate-to-severe rheumatoid arthritis, regardless of prior
treatment received.
The European Committee for Medicinal Products for Human Use (CHMP) in March issued a
®
positive opinion recommending approval of the 300 milligram loading dose tablet of PLAVIX . This
positive opinion was ratified by the European Commission in April.
The first data comparing boosted REYATAZ® (REYATAZ plus ritonavir) and
lopinavir/ritonavir was presented at the Congress on Retroviruses and Opportunistic Infections in
February. The CASTLE study showed similar efficacy between once-daily REYATAZ (atazanavir
sulfate)/ritonavir and twice-daily lopinavir/ritonavir at 48 weeks in previously untreated HIV-infected
adult patients. Data also showed differences in gastrointestinal and lipid effects between
REYATAZ/ritonavir and lopinavir/ritonavir among the study population.
2008 GUIDANCE
Bristol-Myers Squibb reaffirms its 2008 earnings guidance for fully diluted earnings per share
from continuing operations on a GAAP basis to be between $1.36 and $1.46. The company also
reaffirms its 2008 fully diluted earnings per share from continuing operations guidance on a non-GAAP
basis to be between $1.60 and $1.70. The non-GAAP guidance excludes specified items as discussed
under “Use of Non-GAAP Financial Information.” Details reconciling adjusted non-GAAP amounts
8
9. with the amounts reflecting specified items are provided in supplemental materials available on the
company’s website.
The company reaffirms guidance that it expects non-GAAP earnings per share from continuing
operations to grow at a minimum of 15 percent compounded annual growth rate, from the 2007 base
through 2010, excluding costs associated with the Productivity Transformation Initiative and other
specified items that have not yet been identified and quantified.
The 2008 guidance and the three-year compound annual growth rate exclude other specified
items such as gains or losses from sale of businesses and product lines; from sale of equity investments
and from discontinuations of operations; restructuring and other exit costs; accelerated depreciation
charges ; asset impairments; charges and recoveries relating to significant legal proceedings; upfront and
milestone payments for licensing arrangements; payments for in-process research and development; debt
retirement costs; impairments to investments; and significant tax events.
The financial guidance for 2008 and the three-year compound annual growth rate exclude the
impact of any potential strategic acquisitions and divestitures and further assume that the company and
its product partner, sanofi-aventis, maintain exclusivity for the PLAVIX® patent through at least 2010.
Use of Non-GAAP Financial Information
This press release contains non-GAAP financial measures, including non-GAAP earnings and
earnings per share information, adjusted to exclude certain costs, expenses, gains and losses and other
specified items. Among the items in GAAP measures but excluded for purposes of determining adjusted
earnings and other adjusted measures are: charges related to implementation of the Productivity
Transformation Initiative; gains or losses from sale and leaseback of properties and from
discontinuations of operations; restructuring and other exit costs; accelerated depreciation charges; asset
impairments; charges relating to significant legal proceedings; upfront and milestone payments for in-
licensing of products that have not achieved regulatory approval that are immediately expensed;
payments for in-process research and development; impairments to investments; and significant tax events.
This information is intended to enhance an investor’s overall understanding of the company’s past
financial performance and prospects for the future. For example, non-GAAP earnings and earnings per
share information is an indication of the company’s baseline performance before items that are
considered by the company to be not reflective of the company’s ongoing results. In addition, this
information is among the primary indicators the company uses as a basis for evaluating company
performance, allocating resources, setting incentive compensation targets, and planning and forecasting
of future periods. This information is not intended to be considered in isolation or as a substitute for net
earnings or diluted earnings per share prepared in accordance with GAAP.
Statement on Cautionary Factors
This press release contains certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals,
plans and projections regarding the company’s financial position, results of operations, market position,
9
10. product development and business strategy. These statements may be identified by the fact that they use
words such as quot;anticipatequot;, quot;estimatesquot;, quot;shouldquot;, quot;expectquot;, quot;guidancequot;, quot;projectquot;, quot;intendquot;, quot;planquot;,
quot;believequot; and other words and terms of similar meaning in connection with any discussion of future
operating or financial performance. Such forward-looking statements are based on current expectations
and involve inherent risks and uncertainties, including factors that could delay, divert or change any of
them, and could cause actual outcomes and results to differ materially from current expectations. These
factors include, among other things, market factors, (including whether uncertainties in the credit and
capital markets or a further deterioration of these markets will lead to future impairments to the
company’s investment portfolio) competitive product development, pricing controls and pressures
(including changes in rules and practices of managed care groups and institutional and governmental
purchasers), economic conditions such as interest rate and currency exchange rate fluctuations, judicial
decisions and governmental laws and regulations related to Medicare, Medicaid and healthcare reform,
pharmaceutical rebates and reimbursement, claims and concerns that may arise regarding the safety and
efficacy of in-line products and product candidates, changes to wholesaler inventory levels, variability in
data provided by third parties, changes in, and interpretation of, governmental regulations and legislation
affecting domestic or foreign operations, including tax obligations, difficulties and delays in product
development, manufacturing or sales, patent positions and the ultimate outcome of any litigation matter,
including whether Apotex will prevail in its appeal of the District court’s decision in the PLAVIX®
patent litigation. These factors also include the company’s ability to execute successfully its strategic
plans, including its productivity transformation initiatives, the expiration of patents or data protection on
certain products, and the impact and result of governmental investigations. There can be no guarantees
with respect to pipeline products that future clinical studies will support the data described in this
release, that the products will receive necessary regulatory approvals, or that they will prove to be
commercially successful; nor are there guarantees that regulatory approvals will be sought, or sought
within currently expected timeframes, or that contractual milestones will be achieved. For further
details and a discussion of these and other risks and uncertainties, see the company's periodic reports,
including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form
8-K, filed with or furnished to the Securities and Exchange Commission. The company undertakes no
obligation to publicly update any forward-looking statement, whether as a result of new information,
future events or otherwise.
Company and Conference Call Information
Bristol-Myers Squibb is a global pharmaceutical and related health care products company
whose mission is to extend and enhance human life.
There will be a conference call on April 24, 2008 at 10:30 a.m. (EDT) during which company
executives will address inquiries from investors and analysts. Investors and the general public are
invited to listen to a live web cast of the call at www.bms.com/ir or by dialing 913-312-0861,
confirmation code 4556649. Materials related to the call will be available at the same website prior to
the call.
For more information, contact: Brian Henry, 609-252-3337, Communications, Tracy Furey, 609-
252-3208, Communications, John Elicker, 212-546-3775, Investor Relations, or Suketu Desai, 609-252-
5796, Investor Relations.
ABILIFY® is the trademark of Otsuka Pharmaceutical Co., Ltd.
ATRIPLA™ is a trademark of both Bristol-Myers Squibb Co. and Gilead Sciences, Inc.
AVAPRO®, AVALIDE® and PLAVIX® are trademarks of sanofi-aventis
ERBITUX® is a trademark of ImClone Systems Incorporated
10
11. BRISTOL-MYERS SQUIBB COMPANY
NET SALES FROM CONTINUING OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND 2007
(Unaudited, dollars in millions)
Three Months Ended March 31,
BY OPERATING SEGMENT:
2008 2007 % Change
Pharmaceuticals $ 4,188 $ 3,457 21%
Nutritionals 703 606 16%
ConvaTec 290 254 14%
Net Sales $ 5,181 $ 4,317 20%
FOR SELECTED PRODUCTS:
The following table sets forth worldwide and U.S. reported net sales for selected products for the three months ended March
31, 2008 compared to the three months ended March 31, 2007. In addition, the table includes, where applicable, the estimated
total U.S. prescription change for the retail and mail-order channels for the comparative periods presented for certain of the
company's U.S. pharmaceutical products based on third-party data. A significant portion of the company's U.S.
pharmaceutical sales is made to wholesalers. Where changes in reported net sales differ from prescription growth, this change
in net sales may not reflect underlying prescriber demand.
Worldwide Net Sales U.S. Net Sales
% Change in U.S. Total
2008 2007 % Change 2008 2007 % Change Prescriptions vs. 2007
Three Months Ended March 31,
Pharmaceuticals
Cardiovascular
Plavix $ 1,308 $ 938 39% $ 1,139 $ 787 45% 78%
Avapro/Avalide 305 270 13% 174 163 7% (7)%
Pravachol 73 135 (46)% 15 57 (74)% (82)%
Virology
Reyataz 297 263 13% 160 143 12% 12%
Sustiva Franchise (total revenue) 273 226 21% 175 144 22% 15%
Baraclude 108 45 140% 29 17 71% 59%
Oncology
Erbitux 187 160 17% 185 158 17% N/A
Taxol 94 111 (15)% — 4 (100)% N/A
Sprycel 66 21 ** 20 10 100% 49%
Ixempra 25 — — 25 — — N/A
Affective (Psychiatric) Disorders
Abilify (total revenue) 454 366 24% 348 293 19% 14%
Immunoscience
Orencia 87 41 112% 73 40 83% N/A
Nutritionals
Enfamil 290 254 14% 183 171 7% N/A
ConvaTec
Ostomy 143 130 10% 32 34 (6)% N/A
Wound Therapeutics 122 107 14% 34 32 6% N/A
** Change is in excess of 200%.
11
12. BRISTOL-MYERS SQUIBB COMPANY
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND 2007
(Unaudited, amounts in millions except per share data)
Three Months
Ended March 31,
2008 2007 % Change
$ 5,181 $ 4,317 20%
Net Sales
Cost of products sold 1,657 1,340 24%
Marketing, selling and administrative 1,223 1,133 8%
Advertising and product promotion 330 268 23%
Research and development 795 791 1%
Provision for restructuring, net 11 37 (70)%
Equity in net income of affiliates (164) (126) (30)%
Other expense, net (a) 39 22 77%
3,891 3,465 12%
Earnings from Continuing Operations
Before Minority Interest and Income Taxes 1,290 852 51%
Provision for income taxes 359 68 **
Minority interest, net of taxes 230 141 63%
701 643 9%
Net Earnings from Continuing Operations
Discontinued Operations:
Earnings, net of taxes 3 47
Loss on Disposal, net of taxes (43) —
(40) 47
Net Earnings $ 661 $ 690
Earnings per Common Share
Basic:
Net Earnings from Continuing Operations $ .35 $ .33 6%
Discontinued Operations
Earnings, net of taxes — .02
Loss on Disposal, net of taxes (.02) —
Net Earnings per Common Share $ .33 $ .35
Diluted:
Net Earnings from Continuing Operations $ .35 $ .33 6%
Discontinued Operations
Earnings, net of taxes — .02
Loss on Disposal, net of taxes (.02) —
Net Earnings per Common Share $ .33 $ .35
Average Common Shares Outstanding:
Basic 1,975 1,962
Diluted 2,008 1,997
(a) Other expense, net
Interest expense $ 73 $ 109
Interest income (43) (53)
Foreign exchange transaction losses 26 8
Other income, net (17) (42)
$ 39 $ 22
** Change is in excess of 200%.
12
13. APPENDIX 1
BRISTOL-MYERS SQUIBB COMPANY
SPECIFIED ITEMS
FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND 2007
(Unaudited, dollars in millions)
Three months ended March 31, 2008
Provision Other
for (income)/
Cost of Marketing, Research
products selling and and restructuring, expense,
sold administrative development net net Total
Productivity Transformation Initiative:
Downsizing and streamlining of
- - - -
worldwide operations $ 11 $ 11
$ $ $ $
Accelerated depreciation and other
shutdown costs 96 - - - - 96
Process standardization
implementation costs - 15 - - - 15
Gain on sale and leaseback of properties - - - (9) (9)
-
96 15 11 (9) 113
Other:
Product liability - - - - 16 16
Milestone payments - - 20 - - 20
Auction rate securities impairment - - - - 25 25
$ 96 $ 15 $ 20 $ 11 $ 32 174
Income taxes on items above (33)
(Increase)/Decrease to Net Earnings
from Continuing Operations $ 141
Three months ended March 31, 2007
Cost of products Research and Provision for
sold development restructuring, net Total
Upfront payments $ - $ 80 $ - $ 80
- -
Downsizing and streamlining of worldwide operations 37 37
Accelerated depreciation 16 - - 16
$ 16 $ 80 $ 37 133
Income taxes on items above (40)
Change in estimate for taxes on a prior year specified item (39)
$ 54
(Increase)/Decrease to Net Earnings from Continuing Operations
13