Valeant Pharmaceuticals International, Inc. (VRX: Quote,VRX.TO: Quote) Thursday reported a loss for the second quarter compared to a profit last year, as costs increased, despite increased revenues.
The company reported a net loss of $21.6 million or $0.07 per share for the quarter compared to a profit of $56.36 million or $0.17 per share last year.
On a cash earnings per share basis, adjusted income was $1.01 per share compared to $0.73 last year.
Total revenues increased to $820.09 million from $609.39 million.
Legal settlements surged to $53.62 million from $2 million and amortization of intangible assets climbed to $210.57 million from $114.95 million.
Further, the company raised its cash earnings per share outlook to $4.55 to $4.75, or $4.18 to $4.38 excluding one-time items, from the prior guidance of $4.45 to $4.70.
The company maintains its revenue forecast of $3.4 to $3.6 billion.
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by RTT Staff Writer
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