Summary of PERRIGO CO - Yahoo! Finance

Results of Operations and Financial Condition, Financial Statements and Exhibits

ITEM 2.02. Results of Operations and Financial Condition

On November 2, 2009, Perrigo Company (Company) released earnings for the first fiscal quarter 2010.

The earnings release contains non-GAAP measures which are defined as a financial measure of the Company's performance that excludes or includes amounts thereby differentiating it from the most directly comparable measure presented in the financial statements that are calculated and presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Pursuant to the requirements of Regulation G, the Company has provided a reconciliation for gross profit, operating expenses, operating income, income from continuing operations and earnings per share from continuing operations within its earnings release to the most directly comparable U.S. GAAP measure for these non-GAAP measures.

The Company excludes the items listed below in the applicable period when monitoring and evaluating the on-going financial results and trends of its business due to the unusual nature of these items. The Company believes that presenting operating results excluding these items is also useful for investors since it provides important insight into the Company's on-going core business operations on a normalized basis.

Items excluded from reported results and guidance:

First Quarter Fiscal 2009 Results
- A loss on asset exchange

First Quarter Fiscal 2010 Results
- A charge associated with the step-up in value of inventory acquired

Fiscal 2010 Guidance
- A charge associated with the step-up in value of inventory acquired

- A charge associated with acquired research and development

The press release related to the Company's earnings is attached as Exhibit 99.1.

The information in this Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Report shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.