Canadian News
FONT-SIZE Plus   Neg

Valeant Turns To Q4 Profit - Quick Facts

Valeant Pharmaceuticals International, Inc. (VRX: Quote,VRX.TO: Quote) on Monday reported a profit for the fourth qurter, compared to a loss last year.

Net income for the quarter was C$55.86 million or C$0.18 per share compared to a net loss of C$31.13 million or C$0.10 per share in the prior year.

Adjusted earnings increased to C$0.94 per share from C$0.50 per share. The company noted that cash earnings per share for the fourth quarter of 2011 was hurt by foreign currency by about C$0.06 per share, which was offset by the positive impact of C$0.05 related to the foreign currency forward-exchange contracts entered into as part of the iNova transaction. Total reported revenue grew to C$688.4 million from C$514.6 million primarily due to acquisitions completed in 2011 and the growth of key dermatology brands.

Total costs increased 23 percent owing mainly to higher acquired in-process research and development expenses and increased amortization of intangible assets.

The company did not update 2012 annual guidance of C$3.95 - C$4.20 cash earnings per share provided on January 6.

Click here to receive FREE breaking news email alerts for Valeant Pharmaceuticals International and others in your portfolio

by RTT Staff Writer

For comments and feedback:

Business News

comments powered by Disqus