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news.Bristol-Myers Squibb Company has reported net earnings of $2.6 billion, or $1.29 per diluted share, for the third quarter of 2008, up 200%, as compared to $858 million, or $0.43 per diluted share, for the same period in 2007.
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Third quarter 2008 net sales from continuing operations were $5.3 billion, an increase of 14%, including a 3% favorable foreign exchange impact, as compared to the corresponding quarter in 2007.
The company reported earnings from continuing operations of $588 million or $0.30 per diluted share which represented a 21% decrease from prior year primarily due to the impact of specified items.
For the nine months ended September 30, 2008, net earnings were $4 billion, compared to $2.25 billion in the comparable period in the previous year. Net sales were $15.35 billion, compared to $13.13 billion in the prior-year period.
James Cornelius, chairman and CEO of Bristol-Myers Squibb Company, said: “Bristol-Myers Squibb continues to deliver excellent operating results. With double-digit sales growth in the third quarter and with strong financial results for the first nine months of 2008, we are refining our 2008 non-GAAP earnings-per-share guidance to between $1.65 to $1.70, which is the upper range of our prior guidance.”