NEW YORK--(BUSINESS WIRE)--ImClone Systems Incorporated (NASDAQ: IMCL), a global leader in the development and commercialization of novel antibodies to treat cancer, today announced its financial results for the first quarter ended March 31, 2008. For the first quarter of 2008, the Company reported adjusted net income of $29.0 million or $0.33 per diluted share, compared with net income of $28.8 million or $0.33 earnings per diluted share for the first quarter of 2007. The Company’s adjusted net income for the first quarter of 2008 excludes the impact of a non-operating write-down of investments of $84.9 million, after tax, which was principally related to investments in auction rate securities (ARS).
