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IMS Health Announces Growth Amid VNU Deal Doubts
IMS Health has announced third-quarter 2005 revenues of $432.8 million, up 13% from the third quarter of 2004. Meanwhile, reports suggest that the proposed $7bn takeover of the company by VNU may be scrapped due to opposition by VNU shareholders.
Compared with the same periods last year, IMS Health's adjusted diluted earnings per share increased 13% for the third quarter, and 17% for the year to date. Adjusted net income rose by 14% for the third quarter ($80.6 million), and 12% for the year to date.
Adjusted operating income was $110.7 million for the third quarter - a rise of 8%. For the year to date, adjusted operating income growth increased by 6%. The adjusted results exclude a charge of $8.5 million for costs associated with the proposed merger of IMS and VNU.
IMS CEO and President David Carlucci announced that the company had delivered one of its strongest third-quarter results in recent years, with 'exceptional double-digit revenue gains in the Americas, Europe and Asia Pacific, including Japan'.
However, it is not yet clear whether the proposed VNU takeover will go ahead. Investors holding 42% of the company's shares are reported to be planning to meet with the Chair of VNU's supervisory board to ask for the deal to be halted. Fidelity Investments International, Templeton Global Advisors, and Knight Vinke Asset Management are among the shareholders said to believe that the plan is not a good deal for shareholders.
IMS Health is online at www.imshealth.com.
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