Third-quarter fiscal 2009 results announced by Endo Pharmaceuticals

Endo Pharmaceuticals (Nasdaq: ENDP) today reported financial results for the third quarter of 2009.

Total revenues during the third quarter of 2009 increased 14 percent to $361 million compared with $317 million in the third quarter of 2008. Net income for the three months ended September 30, 2009 was $49 million, compared with $66 million in the comparable 2008 period. As detailed in the supplemental financial information below, adjusted net income for the three months ended September 30, 2009 was $74 million, compared with $79 million in the same period in 2008. Reported diluted earnings per share for the three months ended September 30, 2009 were $0.42 compared with $0.55 in the third quarter of 2008. Adjusted diluted earnings per share for the three months ended September 30, 2009 were $0.63, compared with $0.66 in the same period in 2008.

Total revenues for the nine months ended September 30, 2009 were $1.07 billion, compared with $913 million in the comparable 2008 period. Reported diluted earnings per share for the nine months ended September 30, 2009 were $1.01 compared with $1.45 in the comparable period of 2008. Adjusted diluted earnings per share for the nine months ended September 30, 2009 were $2.04, compared with $1.74 in the same period in 2008.

($in thousands, except per share amounts) Third Quarter Year-to-Date 2009 2008 Change 2009 2008 Change Total Revenues $361,027 $316,768 14% $1,069,435 $913,200 17% Reported Net Income 49,422 65,994 (25%) 118,488 182,650 (35%) Reported Diluted EPS 0.42 0.55 (24%) 1.01 1.45 (30%) Adjusted Income 74,251 78,724 (6)% 239,141 219,638 9% Adjusted Diluted EPS $0.63 $0.66 (5)% $2.04 $1.74 17%

"This is an exciting time for Endo Pharmaceuticals," said Dave Holveck, president and CEO of Endo. "Our core business continues to exceed our expectations; we have successfully launched Valstar(TM) for bladder cancer this quarter, and we are planning for the launch of our long-acting injectable testosterone product, which will now be called Aveed(TM). We believe our third quarter performance, in conjunction with a solid outlook for the remainder of the year, warrants an increase in our revenue and earnings guidance. And we continue to actively pursue business development opportunities that will further diversify our top line in the years ahead."

SOURCE Endo Pharmaceuticals