Actelion Ltd. (ALIOF.PK) reported second-quarter net income of CHF 128.68 million or CHF 1.09 per share versus net loss of CHF 408.56 million or CHF 3.43 per share last year.
Total net revenue grew to CHF 447.55 million from CHF 441.69 million in the prior-year quarter.
Andrew Oakley, Chief Financial Officer of Actelion commented, "Actelion continues to expect product sales to decrease in the low single-digit range for the full year 2012. However, based on an accelerated impact from the cost saving initiative, Actelion has increased its full year earnings outlook for 2012, thereby creating a higher base from which to drive future profitability."
Actelion now expects core earnings to grow in the mid single-digit percentage range for 2012. This guidance excludes any impact from movements in provisions relating to receivables in Southern Europe. Previously, the company had guided for no 2012 core earnings growth.
Andrew Oakley concluded, "On the same 2012 basis and unforeseen events excluded, we also expect to maintain core earnings in 2013 at this higher forecasted 2012 level (in local currencies) and expect to return to single-digit growth in 2014 and double-digit growth by 2015."
Further, at this year's Annual General Meeting on May 4, 2012, Actelion's shareholders voted to approve the Board's recommendation to distribute a dividend, out of legal reserve originating from capital contribution, in the amount of CHF 0.80 per registered share.
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