Merck Anticipates Higher Than Expected First-Quarter Results; Raises Full-Year 2007 Earnings Per Share Guidance
WHITEHOUSE STATION, N.J., April 12, 2007 - Merck & Co., Inc. announced today that, subject to final review of its first-quarter results, it anticipates its first-quarter earnings per share (EPS) will be $0.84, excluding restructuring charges related to site closures and position eliminations, and its reported EPS will be $0.78. Merck attributed these anticipated results to strong revenue performance across the Company's range of products. The Company also raised its anticipated 2007 full-year EPS range to $2.75 to $2.85, excluding restructuring charges related to site closures and position eliminations, and its full-year 2007 reported EPS range to $2.60 to $2.75.
This guidance does not reflect the establishment of any reserves for any potential liability relating to the VIOXX litigation.
As previously announced, Merck will report its actual first-quarter earnings on Thursday, April 19. The company will hold its first-quarter 2007 sales and earnings conference call with institutional investors and analysts beginning at 9 a.m. ET that day. During the call, Richard T. Clark, chief executive officer and president, and Judy C. Lewent, executive vice president and chief financial officer, will provide an overview of Merck's financial performance for the quarter. The first-quarter sales and earnings press release and supplemental financial disclosures will be issued that day, prior to the start of the conference call.
Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891, Merck discovers, develops, manufactures and markets vaccines and medicines in more than 20 therapeutic categories. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. For more information, visit www.merck.com.
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Merck's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A of Merck's Form 10-K for the year ended Dec. 31, 2006, and in its periodic reports on Form 10-Q and Form 8-K, which the company incorporates by reference.
Posted: April 2007