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Bristol-Myers Squibb Company (NYSE: BMY) today reported financial results for the fourth quarter and twelve months ended December 31, 2007 and revised 2008 earnings guidance primarily to reflect the sale of the Medical Imaging business.
Bristol-Myers Squibb posted fourth quarter 2007 net sales from continuing operations of $5.4 billion, an increase of 33%, including a 5% favorable foreign exchange impact, compared to the same period in 2006. Excluding the estimated adverse impact of generic competition for PLAVIX® in 2006, net sales from continuing operations increased 13%. The company reported a fourth quarter 2007 net loss from continuing operations of $133 million, or a loss of $0.07 per diluted share, under U.S. Generally Accepted Accounting Principles (GAAP), compared to a net loss from continuing operations of $170 million, or a loss of $0.09 per diluted share for the same period in 2006.
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Bristol-Myers Squibb posted fourth quarter 2007 net sales from continuing operations of $5.4 billion, an increase of 33%, including a 5% favorable foreign exchange impact, compared to the same period in 2006. Excluding the estimated adverse impact of generic competition for PLAVIX® in 2006, net sales from continuing operations increased 13%. The company reported a fourth quarter 2007 net loss from continuing operations of $133 million, or a loss of $0.07 per diluted share, under U.S. Generally Accepted Accounting Principles (GAAP), compared to a net loss from continuing operations of $170 million, or a loss of $0.09 per diluted share for the same period in 2006.
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