Bristol-Myers Squibb posts net sales of $4.9 billion for second quarter 2006

By Lisa Kerner

Charlotte, N.C., July 27 - Bristol-Myers Squibb Co. said its second-quarter 2006 net sales from continuing operations remained constant at $4.9 billion compared to the same period in 2005.

The company reported second quarter 2006 net earnings from continuing operations of $667 million, or $0.34 per diluted share (GAAP), down from the prior year period's reported $991 million, or $0.50 per diluted share.

On a non-GAAP basis, second quarter 2006 net earnings from continuing operations were $680 million, or $0.35 per diluted share, compared to $933 million, or $0.47 per diluted share for the same period in 2005.

For the six months ended June 30, net sales from continuing operations increased 1% to $9.5 billion compared to the first six months of 2005.

Under GAAP, net earnings from continuing operations in the first six months of 2006 were $1.4 billion, or $0.70 per diluted share, up slightly from the $1.5 billion, or $0.78 per diluted share for the same period last year.

On a non-GAAP basis, excluding specified items, Bristol-Myers Squibb reported net earnings from continuing operations of $1.3 billion, or $0.67 per diluted share for the first half of 2006, down from $1.6 billion, or $0.81 per diluted share, for the same period in 2005.

Company highlights for the first six months of 2006 include the launch of products to treat cancer, rheumatoid arthritis and depression.

Bristol-Myers Squibb reaffirmed its 2006 full year earnings guidance of fully-diluted earnings per share from continuing operations to be between $1.15 and $1.25 on an adjusted non-GAAP basis.

Bristol-Myers Squibb is a pharmaceutical and related health care products company located in New York.

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