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In addition, during this call, we will be referring to certain actual and projected financial metrics of Mylan on an adjusted basis, which are non-GAAP financial measures. It should be noted that non-GAAP measures such as adjusted revenues, adjusted gross margin and adjusted diluted EPS should be used only as a supplement to, not as a substitute for, or as a superior measure to measures of financial performance prepared in accordance with GAAP. Please refer to today's press release, which is available on our website, as it contains detailed GAAP to non-GAAP reconciliations of our actual second quarter results. Before I turn the call over to Robert, let me also remind you that the material in the call, with the exception of the participant questions, is the property of Mylan and cannot be recorded or rebroadcast without Mylan's expressed written permission. With that, I'll now turn the call over to Robert.Robert Coury Thank you, Kris. Hello, everyone, and thank you for joining us today. Before we get started, I'd like to welcome and recognize all of our fellow employees around the world. On behalf of the Board of Directors and our entire management team, I would once again like to thank each of you. Through your continued hard work and unwavering dedication to achieving our goals, we have again delivered another quarter of strong results. Now that we have half of the year behind us, we are well on our way to achieving our 2011 goals. We experienced significant growth, both on top line and bottom line. We optimized and execute on opportunities, while at the same time, mitigating the inherent challenges within our industry. The most significant of our opportunities in the second quarter was the earlier than expected launch of Budesonide capsules, the first generic version of this product to enter the U.S. market. Even though we had projected this launch to come later in the year, we were fortunate to be able to execute on this opportunity sooner.
We also were able to launch Cyclobenzaprine ER. And even though we were subsequently enjoined by the courts, customers have purchased substantial quantities of our product prior to the court's action. And of course, we were able to derive significant benefit from our first-to-file launch of Letrozole.More importantly, we see many of these opportunities we realized this quarter as sustainable. And we continue to be very happy with the overall mix of our strong diversified base business in terms of both products and geographies. In fact, this quarter exemplifies how strong and diverse the platform we built truly is, as we continue to successfully absorb the macroeconomic headwinds outside the U.S. With that said, in Europe, for example, the long-term fundamental growth opportunities have not changed. What has changed is the timing. We now expect to see Europe to be flat to slightly lower in 2011, and instead, fully expect this market to return to growth in 2012. The real story here, however, continues to be our strong organic growth into 2013, which allows us to absorb these types of challenges while being able to forecast and deliver strong revenue and earnings growth. As reported in this morning's press release, we delivered revenue growth of 15% over the second quarter of 2010. We also delivered growth in earnings per share of excess of 40% as compared to the same quarter last year, reporting $0.42 in adjusted diluted EPS for the second quarter. Read the rest of this transcript for free on seekingalpha.com