PITTSBURGH, July 1, 2014 /PRNewswire/ -- Mylan Inc.
(Nasdaq: MYL) announced today that it will host a conference call
and live webcast on Thursday, Aug. 7,
2014, at 10:00 a.m. ET to
review the company's financial results for the second quarter and
first half ended June 30, 2014. Mylan
will release its financial results on Aug.
7 before the market opens.
With respect to its guidance for the second quarter, Mylan
reaffirmed that it expects adjusted diluted earnings per share in
the range of $0.67 to $0.70.
Mylan also announced that the company will host an Investor Day
on Sept. 18, 2014 in New York City. At that time, Mylan's senior
leadership team will provide an update on the company's strategic
vision and long-term outlook.
The dial-in number to access the second quarter earnings
conference call is 800.514.4861 or 678.809.2405 for international
callers. To access the live webcast, please log on to Mylan's
website, mylan.com, at least 15 minutes before the event is
scheduled to begin to register and download or install any
necessary software. A replay of the webcast will be available at
mylan.com/investors, for a limited time.
Non-GAAP Financial Measures
This press release includes the presentation and discussion of
certain financial information that differs from what is reported
under accounting principles generally accepted in the
United States ("GAAP"). These
non-GAAP financial measures, including, but not limited to,
adjusted diluted EPS, are presented in order to supplement
investors' and other readers' understanding and assessment of the
Company's financial performance. Management uses these measures
internally for forecasting, budgeting and measuring its operating
performance. In addition, primarily due to acquisitions, Mylan
believes that an evaluation of its ongoing operations (and
comparisons of its current operations with historical and future
operations) would be difficult if the disclosure of its financial
results were limited to financial measures prepared only in
accordance with GAAP. Set forth below, Mylan has provided
reconciliations of such non-GAAP financial measures to the most
directly comparable GAAP financial measure. Investors and other
readers are encouraged to review the related GAAP financial
measures and the reconciliations of the non-GAAP measures to their
most directly comparable GAAP measures set forth below, and
investors and other readers should consider non-GAAP measures only
as supplements to, not as substitutes for or as a superior measures
to, the measures of financial performance prepared in accordance
with GAAP.
Reconciliation of forecasted net earnings and EPS to adjusted
net earnings
The reconciliation below is based on management's estimate of
adjusted net earnings and adjusted diluted EPS for the year ending
December 31, 2014. Mylan expects
certain known GAAP charges for 2014, as presented in the
reconciliation below. Other GAAP charges, including those related
to potential litigation, asset impairments and restructuring
programs that would be excluded from the adjusted results are
possible, but their amounts are dependent on numerous factors that
we currently cannot ascertain with sufficient certainty or are
presently unknown. These GAAP charges are dependent upon future
events and valuations that have not yet occurred or been performed.
The unaudited forecasted amounts presented below are stated in
millions, except for GAAP and adjusted earnings per share data.
|
Lower
|
|
Upper
|
GAAP net earnings
attributable to Mylan Inc. and diluted GAAP EPS
|
$
|
790
|
|
|
$
|
2.03
|
|
|
$
|
900
|
|
|
$
|
2.22
|
|
Purchase accounting
related amortization
|
400
|
|
|
|
|
|
420
|
|
|
|
|
Interest expense,
primarily amortization of convertible debt discount
|
35
|
|
|
|
|
|
45
|
|
|
|
|
Non-cash accretion of
contingent consideration liability
|
35
|
|
|
|
|
|
40
|
|
|
|
|
Pre-tax loss of clean
energy investments
|
75
|
|
|
|
|
|
85
|
|
|
|
|
Restructuring and other special items
|
170
|
|
|
|
|
|
220
|
|
|
|
|
Tax effect of the
above items and other income tax related items
|
(240)
|
|
|
|
|
|
(250)
|
|
|
|
|
Adjusted net earnings
attributable to Mylan Inc. and adjusted diluted EPS
|
$
|
1,265
|
|
|
$
|
3.25
|
|
|
$
|
1,460
|
|
|
$
|
3.60
|
|
Weighted average
diluted common shares outstanding
|
389
|
|
|
|
|
|
405
|
|
|
|
|
Forward-Looking Statements
This press release may contain "forward-looking statements."
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements may include, without limitation,
statements about the Company's future operations, its anticipated
business levels, future earnings, and other expectations and
targets for future periods. These often may be identified by the
use of words such as "may," "could," "should," "would," "project,"
"believe," "anticipate," "expect," "plan," "estimate," "forecast,"
"potential" "intend," "continue," "target" and variations of these
words or comparable words. Because forward-looking statements
inherently involve risks and uncertainties, actual future results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to: the inherent
challenges, risks and costs in the Company's ability to identify,
acquire and integrate complementary or strategic acquisitions of
other companies, products or assets and in achieving anticipated
synergies; the Company's expected or targeted future financial and
operating performance and results; the Company's capacity to bring
new products to market, including but not limited to where the
Company uses its business judgment and decide to manufacture,
market, and/or sell products, directly or through third parties,
notwithstanding the fact that allegations of patent infringement(s)
have not been finally resolved by the courts (i.e., an "at-risk
launch"); the scope, timing and outcome of any ongoing legal
proceedings and the impact of any such proceedings on the Company's
consolidated financial condition, results of operations or cash
flows; the Company's ability to protect its intellectual property
and preserve its intellectual property rights; the effect of any
changes in customer and supplier relationships and customer
purchasing patterns; the ability to attract and retain key
personnel; changes in third-party relationships; the impacts of
competition; changes in economic and financial conditions of the
Company's business; uncertainties and matters beyond the control of
management; and inherent uncertainties involved in the estimates
and judgments used in the preparation of financial statements, and
the providing of estimates of financial measures, in accordance
with GAAP and related standards or on an adjusted basis. For more
detailed information on the risks and uncertainties associated with
the Company's business activities, see the risks described in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2013 and its other filings with the Securities
and Exchange Commission ("SEC"). You can access the Company's Form
10-K and other filings with the SEC through the SEC website at
www.sec.gov, and the Company strongly encourages you to do so. The
Company undertakes no obligation to update any statements herein
for revisions or changes after the date of this release.
Mylan is a global pharmaceutical company committed to setting
new standards in health care. Working together around the world to
provide 7 billion people access to high quality medicine, we
innovate to satisfy unmet needs; make reliability and service
excellence a habit; do what's right, not what's easy; and impact
the future through passionate global leadership. We offer a growing
portfolio of more than 1,300 generic pharmaceuticals and several
brand medications. In addition, we offer a wide range of
antiretroviral therapies, upon which approximately 40% of HIV/AIDS
patients in developing countries depend. We also operate one of the
largest active pharmaceutical ingredient manufacturers and
currently market products in approximately 140 countries and
territories. Our workforce of more than 20,000 people is dedicated
to improving the customer experience and increasing pharmaceutical
access to consumers around the world. But don't take our word for
it. See for yourself. See inside. mylan.com
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SOURCE Mylan Inc.