31st Dec, 1996 01 Jan, 1997 - 26 Aug, 1997

Net sales 102,325 65,077

Cost of sales 48,369 30,551
Gross profit 53,956 34,526
Selling, general and administrative 12,286 5,621
Research and development 6,856 5,253
Depreciation and amortization
Compensation related to stock options

Purchased in-process research and

development

Merger and other related costs

Separation benefits

Operating income (loss) 34,814 23,652

Interest expense, net
Income (loss) before income tax (benefit) 34,814 23,652
Income tax (benefit)
Net income (loss) 34,814 23,652
26 Aug, 1997 - 31 Dec, 1997 31st Dec, 1998 31st Dec, 1999
39,431 108,370 138,546
29,779 54,731 58,263
9,652 53,639 80,283
8,707 25,540 42,921
2,865 5,893 9,373
2,340 7,373 8,309

46,000

-50,260 14,833 19,680

5,352 14,451 14,347
-55,612 382 5,333
-20,318 181 2,073
-35,294 201 3,260
 31st Dec, 1996 01 Jan, 1997 - 26 Aug, 1997
Net sales 102,325 65,077
Cost of sales 48,369 30,551
Gross profit 53,956 34,526
Selling, general and administrative 12,286 5,621
Research and development 6,856 5,253
Net income (loss) 34,814 23,652

Endo Consoli
150,000

100,000

Amount in Dollar Thousand

50,000

0
31st Dec, 1996 01 Ja n, 1997 - 26 Aug, 1997

-50,000

Net s al es
Sel l i ng, genera l a nd admi ni stra
 26 Aug, 1997 - 31 Dec, 1997 31st Dec, 1998 31st Dec, 1999
39,431 108,370 138,546
29,779 54,731 58,263
9,652 53,639 80,283
8,707 25,540 42,921
2,865 5,893 9,373
-35,294 201 3,260

Endo Consolidated Statement of Operations

150,000

100,000

50,000

0
31st Dec, 1996 01 Ja n, 1997 - 26 Aug, 1997 26 Aug, 1997 - 31 Dec, 1997 31st Dec, 1998 31st Dec, 1999

-50,000

Financial Year

Net s al es Cost of s al es Gros s profit

Sel l i ng, genera l a nd admi ni strative Res ea rch a nd devel opment Net i ncome (l os s )
 31st Dec, 1999

os s )
Financial Ratios

31st Dec, 1996 01 Jan, 1997 - 26 Aug, 1997

Profitability Ratios
Net Profit Margin 34.02% 36.34%
Gross Profit Margin 52.73% 53.05%
Operating Profit Margin 34.02% 36.34%

Solvency Ratios
Interest Coverage NA NA
26 Aug, 1997 - 31 Dec, 1997 31st Dec, 1998 31st Dec, 1999
Activity Ratios
NA 0.19% 2.35% Asset Turnover
24.48% 49.50% 57.95% Working capital Turnover
NA 13.69% 14.20%
Solvency Ratios
Debt-to-Equity
NA 1.0264341568 1.3717153412 Debt-to-Capital
Financial Leverage
 1997 1998 1999

NA 37.68% 42.06%
NA 2.88 2.80

2.24 2.26 2.43

0.69 0.69 0.71
3.69 3.82 4.19

s
Cash and cash equivalents
Working capital
Total assets
Total debt
Other long-term obligations
Stockholders' equity
14,521 17,367 22,028
17,659 37,676 49,541
275,496 287,618 329,436
167,472 170,544 191,203
5,852 6,352 6,745
74,706 75,358 78,587