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INCOME TAX EXPENSE (BENEFIT) (62,371) 24,963 (4,375) 102,613
NET INCOME (LOSS) $112,043 $(306,763) $210,962 $(235,886)
BASIC INCOME (LOSS) PER
COMMON SHARE $1.64 $(4.58) $3.11 $(3.55)
DILUTED INCOME (LOSS) PER
COMMON SHARE $1.42 $(4.58) $2.79 $(3.55)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 68,118 66,931 67,855 66,398
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING-
ASSUMING DILUTION 78,920 66,931 75,580 66,398
CEPHALON, INC. AND SUBSIDIARIES
Reconciliation of GAAP Net Income to Adjusted Net Income
(Unaudited)
Three Months Ended
September 30,
2008 2007
GAAP NET (LOSS) INCOME $112,043 $(306,763)
Cost of sales adjustments 54,569 (1) 22,255 (1)
Research and development adjustments 259 (2) 15,000 (2)
Selling, general and administrative
adjustments 27,169 (3) -
Settlement reserve 7,450 (4) 369,000 (4)
Gain on extinguishment of debt - (5,319) (5)
Interest expense adjustment 3,750 (6)
Restructuring charges 1,497 (7)
Income tax adjustment (113,832) (8) (21,693) (8)
(19,138) 379,243
ADJUSTED NET INCOME $92,905 $72,480
BASIC ADJUSTED INCOME PER COMMON
SHARE $1.36
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