Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

7/19/2012 3:06 AM ET

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.

Register
To receive FREE breaking news email alerts for Actelion Ltd., and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.