BRISTOL, Tenn.--(BUSINESS WIRE)--King Pharmaceuticals, Inc. (NYSE:KG) announced today that total revenues were $432 million during the first quarter ended March 31, 2008, compared to $516 million in the first quarter of 2007. This decrease was primarily due to the market entry of the first generic substitute for ALTACE® (ramipril) in December 2007. Reported net earnings equaled $88 million and diluted earnings per share equaled $0.36 during the first quarter of 2008, compared to net earnings of $116 million and diluted earnings per share of $0.48 in the first quarter of the prior year. Excluding special items, net earnings equaled $90 million and diluted earnings per share equaled $0.37 during the first quarter ended March 31, 2008, compared to net earnings of $118 million and diluted earnings per share of $0.48 in the first quarter of 2007.
