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Bristol Myers Squibb Co (BMY) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Bristol Myers Squibb Co

CIK: 14272 Ticker: BMY

Exhibit 99.1

LOGO

Strong Fourth Quarter Supports Excellent 2008 for Bristol-Myers Squibb

 

   

Key Franchises and Products Drive Solid Top-Line Growth

 

   

Financial Results Supported by Significant Improvement in Gross Profit and Improved Cost Management Driven Largely By Productivity Initiatives

 

   

Provides 2009 GAAP EPS Guidance Range of $1.58 to $1.73; Non-GAAP EPS Guidance Range of $1.85 to $2.00

(NEW YORK, January 27, 2009) – Bristol-Myers Squibb Company (NYSE: BMY) today announced strong fourth quarter sales and earnings growth completing the company’s excellent overall 2008 financial performance.

“In the quarter, and in the past year, we’ve taken decisive action as a BioPharma leader to become leaner and more agile,” said James M. Cornelius, chairman and chief executive officer. “I’m particularly pleased by our global commercial teams in presenting our value proposition to customers and payers. We’ve executed with speed and rigor against our strategy. Results this quarter continued to be strong, capping off an outstanding year.

“We are reaching our objectives in all areas. Our favorable cash position expedites our business development efforts. Our ‘String of Pearls’ grows more valuable with each asset and alliance we add. And we’re becoming more productive, as seen in our growing profit margins.

“In 2009, we expect to deliver on our promises to advance our innovative pipeline, execute our business development plans, grow margins and meet our productivity goals. We are well on-track to fulfill our commitments to patients and shareholders, and to navigate the challenges of coming years.”

 

           Fourth Quarter       
     $ amounts in millions, except per share amounts                       
           2008    2007     Change       
   

Net Sales

   $ 5,249    $ 5,058     4 %    
   

Net Earnings/(Loss) Per Common Share – Diluted

     0.63      (0.05 )   *      
   

GAAP Diluted EPS From Continuing Operations

     0.61      (0.10 )   *      
   

Non-GAAP Diluted EPS From Continuing Operations

     0.46      0.30     53 %    
   
          Full Year       
          2008    2007     Change       
   

Net Sales

   $ 20,597    $ 18,193     13 %    
   

Net Earnings Per Common Share – Diluted

     2.63      1.09     141 %    
   

GAAP Diluted EPS From Continuing Operations

     1.59      0.88     81 %    
   

Non-GAAP Diluted EPS From Continuing Operations

     1.74      1.27     37 %    
   

 

* in excess of +/-200%

 

 

                         

 

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The following information was filed by Bristol Myers Squibb Co (BMY) on Tuesday, January 27, 2009 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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SEC Filing Tools
Ticker: BMY
CIK: 14272
Form Type: 10-K Annual Report
Accession Number: 0001193125-09-033538
Submitted to the SEC: Fri Feb 20 2009 6:11:29 AM EST
Accepted by the SEC: Fri Feb 20 2009
Period: Wednesday, December 31, 2008
Industry: Pharmaceutical Preparations

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