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|Media Contact:||Janet M. Barth|
FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS
Success of new product introductions and competitive in-market performance of
Mucinex®and Delsym® drove Adams retail consumption to grow more than $130 million,
an increase of nearly 70 percent over fiscal 2006
|||Fiscal 2007 fourth quarter net sales of $46.9 million declined 11 percent from net sales of $52.8 million in the prior year period. Despite the lower reported net sales growth, Adams retail consumption increased 44 percent during the fiscal 2007 fourth quarter, according to Information Resources Inc. (IRI) data for the 52 weeks ended July 1, 2007. Net sales in the fiscal 2006 fourth quarter benefited from $11.0 million in sales related to the reduction in the product backorder that was generated in the first half of fiscal 2006.|
|||Net sales in fiscal 2007 increased 39 percent to $331.6 million, in line with Adams previously disclosed annual net sales guidance range of $320 to $335 million. This growth was driven by Adams retail consumption that grew more than $130 million, an increase of nearly 70 percent over fiscal 2006, according to IRI data.|
|||Income per diluted share of $0.82 for fiscal 2007 includes pretax charges of $14.9 million (or $0.26 per diluted share), comprised of $9.7 million related to the repurchase of the Ft. Worth, Texas manufacturing operations in July 2006; a $2.7 million non-cash charge related to the AlleRx royalty interest recorded in December 2006; and a $2.5 million non-cash charge related to the impairment of the Humibid® intangible asset in June 2007.|
|||The Food and Drug Administration (FDA) announced its intention to take enforcement action to remove all unapproved timed-release guaifenesin products from the market, including prescription versions of Adams Mucinex DM and Mucinex D. (May)|
|||Adams dollar share of the total cough/cold/allergy/sinus (CCAS) category increased nearly 4 market share points to 10.4 percent, from 6.6 percent in the prior year period, according to IRI data for the 52 weeks ended July 1, 2007, compared to the prior year period.|
|||Adams portfolio expansion is underway with strong initial trade shipments of the new Mucinex products, including Maximum-Strength Mucinex, Mucinex Nasal Sprays and new items in the Mucinex for Children product line. (August)|
The following information was filed by Adams Respiratory Therapeutics, Inc. on Tuesday, August 21, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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