Amgen Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year 2015
For the full year, the company's total revenues were $20,063 million against $18,676 million a year ago. Operating income was $6,191 million against $5,867 million a year ago. Income before income taxes was $5,585 million against $5,265 million a year ago. Net income was $5,158 million or $6.70 diluted per share against $5,081 million or $6.33 diluted per share a year ago. Adjusted operating income was $8,475 million against $6,972 million a year ago. Adjusted net income was $6,700 million or $8.70 diluted per share against $5,814 million or $7.60 diluted per share a year ago. Cash flows from operations were $8,555 million against $6,291 million a year ago. Capital expenditures were $718 million against $693 million a year ago. Adjusted income before income taxes was $7,869 million against $6,404 million a year ago.
For the full year 2015, the company expects total revenues to be in the range of $20.8 billion to $21.3 billion and adjusted EPS to be in the range of $9.05 to $9.40. GAAP diluted EPS to be in the range of $7.48 to $7.87. Adjusted tax rate expects to be in the range of 18% to 19%. This excludes the benefit of the federal R&D tax credit, which has not yet been extended for 2015. Capital expenditures are to be approximately $800 million. GAAP tax rate guidance expects in the range of 14% to 16%.