Exhibit 99.1
| Chiron Corporation |
4560 Horton Street |
Emeryville, California 94608-2916 |
510.655.8730 Fax 510.655.9910 |
|
News Release |
For Immediate Release
Contacts:
Chiron Corporate Communications & Investor Relations
Media: (510) 923-6500
Investors: (510) 923-2300
CHIRON IDENTIFIES POST-CLOSE ADJUSTMENTS
TO 2004 FINANCIAL RESULTS
EMERYVILLE, Calif., Tuesday, February 22, 2005 — Chiron Corporation (NASDAQ: CHIR) today announced that in the course of its ongoing year-end financial statement review and Section 404 Sarbanes-Oxley review, the company has identified a number of post-close adjustments to its 2004 financial results as announced on January 26, 2005. Based on current information, Chiron expects these adjustments to reduce diluted income from continuing operations for the year ended December 31, 2004, by a range of $0.02 per share to $0.08 per share, on both a pro-forma and GAAP basis.
Chiron’s reviews are continuing, and there can be no assurance that the company will not identify further adjustments, or that the expected range is correct. These items appear to involve only year-end, post-closing adjustments to the financial information for the fourth quarter 2004, except one, which may involve prior periods in 2004. Chiron will complete its reviews and reissue its financial results prior to the filing of its 2004 financial statements in its Annual Report on Form 10-K.
About Chiron
Chiron delivers innovative and valuable products to protect human health by advancing pioneering science across the landscape of biotechnology. The company works to deliver on the limitless promise of science and make a positive difference in people’s lives. For more information, please visit www.chiron.com.
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