logo
Share SHARE
FONT-SIZE Plus   Neg

Actelion Posts Profit In Q2; Sees Earnings Growth For Full Year - Update

Swiss pharmaceutical firm Actelion Ltd. (ALIOF.PK) reported Thursday a profit for the second quarter, as the company recorded litigation provisions last year. Actelion said it now expects full-year 2012 core earnings to grow in the mid single-digit percentage range, while it had issued a flat core earnings forecast earlier.

Further, on the same 2012 basis, the company expects to maintain core earnings in 2013 at the projected 2012 level, in local currencies, and expects to return to single-digit growth in 2014 and double-digit growth by 2015.

Andrew Oakley, chief financial officer, said the company continues to expect product sales to decrease in low single-digit range for the full year 2012. In addition, Actelion expects to include a restructuring charge for full year, with exact amount yet to be determined.

Jean-Paul Clozel, M.D. and chief executive officer said, "I am very pleased, that our efforts to control costs are already having an impact on profitability....I strongly believe that through the execution of our strategy, with our available assets as well as the cost control measures we have committed to, Actelion is well-positioned for sustainable core earnings growth and greater shareholder returns in the future."

In the second quarter, the company posted a net income of 128.68 million Swiss francs or 1.09 francs per share, compared to a net loss of 408.56 million francs or 3.43 francs per share reported last year. In the prior-year quarter, the company recorded litigation provisions totaling 485.21 million francs.

Total operating expenses dropped to 285.46 million francs from 829.43 million francs in the previous year.

Total net revenues grew to 447.55 million francs from 441.69 million francs in the prior-year quarter. Revenues from Product sales increased to 445.94 million francs from 440.05 francs in the preceding year. Contract revenues were 1.61 million francs, compared to 1.64 million francs a year earlier.

On Frankfurt's Xetra, the shares closed Wednesday's regular trading at 34.10 euros, up 0.33 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
Follow RTT