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BMY » Topics » Strong Operational and Strategic Performance in Fourth Quarter Caps Transformative 2009

This excerpt taken from the BMY 8-K filed Jan 28, 2010.

Strong Operational and Strategic Performance in Fourth Quarter Caps Transformative 2009

 

  •  

Key Products Drive Strong Fourth Quarter Top-Line Growth

 

  •  

Continued Focus on Productivity Leads to Improved Operating Margins

 

  •  

Financial Strength Reflected in Year-End Cash and Marketable Securities of $10 Billion

 

  •  

Company Provides 2010 GAAP EPS From Continuing Operations Guidance Range of $1.94 to $2.04; Non-GAAP EPS Guidance Range of $2.15 to $2.25

(NEW YORK, January 28, 2010) — Bristol-Myers Squibb Company (NYSE: BMY) today announced strong fourth quarter sales and earnings growth driven by the company’s continued operational and strategic execution.

“Our top-line sales growth and improved operating margins reflect excellent execution across our company,” said James M. Cornelius, chairman and chief executive officer. “As a result, we have strengthened our financial position and are well prepared to continue delivering on our BioPharma strategy in 2010. In 2009, we completed strategic initiatives such as splitting off Mead Johnson, acquiring Medarex and extending our Abilify commercialization agreement with Otsuka; all of which significantly address present and future challenges.

“While fundamentally transforming our company over the past year, we were able to grow our key franchises, launch new medicines and indications, advance a diverse, differentiated, robust pipeline and embed productivity into our corporate DNA. Bristol-Myers Squibb is now truly a focused biopharmaceutical company which continues to deliver shareholder value and helps patients prevail over serious diseases.”

 

     Fourth Quarter  
$ amounts in millions, except per share amounts                 
     2009    2008    Change  

Net Sales

    $ 5,033    $ 4,542    11 % 

Net Earnings Per Common Share — Diluted

      4.06      0.63    544 % 

GAAP Diluted EPS From Continuing Operations

      0.41      0.56    (27 )% 

Non-GAAP Diluted EPS From Continuing Operations

      0.47      0.40    18 % 
     Full Year  
     2009    2008    Change  

Net Sales

    $ 18,808    $ 17,715    6 % 

Net Earnings Per Common Share — Diluted

      5.34      2.62    104 % 

GAAP Diluted EPS From Continuing Operations

      1.63      1.35    21 % 

Non-GAAP Diluted EPS From Continuing Operations

      1.85      1.49    24 % 

 

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