Schering-Plough Corporation

Schering-Plough reports net income for first quarter of 2006 of $350 million

Published in Cardiovascular Business Week, May 16th, 2006

For the 2006 first quarter, Schering-Plough reported net income available to common shareholders of $350 million or 24 cents per common share, which includes income of $22 million or approximately 2 cents per share resulting from the cumulative effect of the adoption of SFAS 123R related to stock-based compensation.

GAAP net sales for the period totaled $2.6 billion, up 8% versus the 2005 first quarter. Schering-Plough does not record sales of its cholesterol joint venture with Merck & Co., Inc., as this venture is accounted for under the equity method. Including an adjustment of an assumed 50% of global cholesterol joint venture net sales, Schering-Plough's adjusted...

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Source: Cardiovascular Business Week (2006-05-16)

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