To: Jenna who wrote (82814 ) 2/14/2000 11:20:00 AM From: Rose K Read Replies (1) | Respond to of 120523
EP #3 (2/14 announces earnings and stock split. Monday, February 14, 2000, 6:00 AM ET Pharmaceutical Company Announces a 2 for 1 Split EP #3 (2/14) announced that the Company's Board of Directors has approved a 2 for 1 split of the Company's common shares and ADRs. The Israel-based company has set a payable date of March 24th. The Company currently has approximately 62 million shares outstanding. Also announced was a 4th Quarter dividend of $0.11 per share (pre-split), payable to shareholders of record as of February 21st and payable on March 15th. The dividend and split announcements were made in conjunction with 4th quarter earnings, which came in at $0.64 per share (adjusted). First Call estimates had placed earnings at $0.62 per share. EP #3 (2/14) is Israel's largest pharmaceutical company. The Company develops, manufactures and markets branded and generic drugs, drug ingredients and medical disposables. The Company makes the branded drug Copaxone, which is used to treat multiple sclerosis. Over 80% of the Company's revenues are generated outside of Israel, mostly in the US and Europe. Shares of EP #3 (2/14) were first traded in the US in 1987. ADRs were issued at $9.25. The Company was originally founded in Israel in 1944. This is the second forward split for the Company. The first 2:1 split came in April 1993, while the stock was trading near $44.00. The stock has been surging since November 1999, trading from $50 to a recent high of $78.62 on January 19th. The 65-day ADV is 502,000 shares traded. The pharmaceutical companies have been under pressure since early December, but this stock is out-performing the sector.