Shire plc (SHPG,SHP.L) reported that its fourth-quarter net income declined to $42.0 million from $255.3 million in the same quarter last year. Earnings per ADS for the quarter declined to 22.2 cents from 133.2 cents last year.
On a non-GAAP basis, Earnings per ADS for the quarter rose to 157.8 cents from 151.2 cents in the year ago quarter.
Total operating expenses for the quarter rose to $1.12 billion from $838.2 million last year.
Operating income was down 74% to $79 million from $304 million last year, primarily due to charges to impair intangible assets relating to RESOLOR in the EU of $171 million and higher legal and litigation costs in Q4 2012, including a charge of $58 million in relation to the agreement in principle with the US Government.
Total revenues for the quarter rose to $1.20 billion from $1.14 billion in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.58 per share on revenues of $1.20 billion for the quarter. Analysts' estimates typically exclude special items.
The company announced that Sylvie Gregoire, President of our HGT business will leave Shire at the end of March after five years with the Company. Flemming Ørnskov will assume interim leadership of this business from the end of March. Mike Yasick, who for the last five years has led Shire's largest business unit, Behavioral Health, will assume interim leadership of the SP business from the end of March.
Royalties and other revenues for 2013 are expected to be 30-40% lower than 2012. This reflects a full year's impact of the lower ADDERALL XR authorized generic royalty rate receivable from Impax, along with generic competition and patent expiry on other products, and the one-time $38 million of royalty income recorded in the fourth-quarter 2012 following the resolution of the disagreement with GSK.
The company expects its financial results to show further growth in line with current consensus earnings expectations for 2013. Based on the most recent consensus estimates compiled by Consensus Forecast Ltd, of $6.72 Non GAAP earnings per ADS for the year ended 31 December 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.