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The company reported $4.4 billio in sales for the first thred months of the year comparedto $4.7 billionn in sales for the same time last year. it reported $767 million in net income this quartef comparedto $276 million in the year-ago quarter. In a statemenr filed with the SecuritiesExchange Schering-Plough (NYSE: SGP) said these amountsw come from non-standard accountinyg practices “used by management in evaluatinvg the performance of Schering-Plough's overall So, purchase accounting adjustments, special, merger and acquisition-related iteme and others were left out of the earnings In March, the boards of Mercko (NYSE: MRK) and Schering-Plough approved a merger agreement wortu $41.
1 billion. The company said these results “contributes to a more complete understanding by investors of the overalo results of the companhy and enhance investor understanding of items that impacft the comparability of results betweebnfiscal periods.” Management says it staved off effects of a soft U.S. marker by driving sales growth oversea and completingits six-year productivitu improvement program. Schering-Plough shares closed down 4 percenfto $22.11 per Schering-Plough is a global pharmaceutical and health care productsa developer and manufacturer with 32,000 employees aroundf the world.
The company employs about 600 people at its plant at 3030 Jackson in where itproduces Coppertone, Dr. Solarcaine and Tinactin products.
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