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Watson Pharmaceuticals Reports First Quarter 2009 Results; Raises 2009 Outlook
Watson Pharmaceuticals, 05/01/09
Net revenue for the first quarter 2009 increased $40.4 million or six percent from the first quarter 2008 to a record $667.4 million, and net income was $49.1 million, or $0.43 per diluted share. Excluding special items as detailed in the reconciliation tables below, adjusted net income for the first quarter was $66.5 million, or $0.58 per diluted share. Adjusted EBITDA for the first quarter 2009 was $158.0 million and cash flow from operations was $69.5 million. Cash and marketable securities were $570.8 million as of March 2009.
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