Jazz Pharmaceuticals PLC (JAZZ) Tuesday reported fourth-quarter net income of $200.6 million or $3.28 per share, compared with $37.5 million or $0.79 per share last year.
Results for the reporting quarter included an income tax benefit of $108.8 million, and income from discontinued operations of $34 million, among other items.
Excluding items, adjusted earnings for the quarter were $93.9 million or $1.53 per share, compared with $55.4 million or $1.17 per share a year ago.
Revenues for the quarter were higher at $183.7 million, compared with $83.5 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $1.42 per share on revenues of $183.80 million for the quarter. Analysts' estimates typically exclude special items.
Growth was led mainly by inclusion of revenues from the acquired Azur Pharma and EUSA Pharma businesses and increased net sales of Xyrem (sodium oxybate) oral solution.
Looking ahead to fiscal year 2013, the company expects net earnings of $3.17 to $3.47 per share, adjusted earnings of $5.70 to $5.90 per share, and revenues of $805 million to $835 million.
Analysts currently expect earnings of $5.71 per share on revenues of $813.70 million for 2013.
"In 2013, we anticipate continued strong growth in revenues and earnings driven by our core products. In addition, we plan to pursue business development opportunities for additional specialty products that leverage our unique expertise and infrastructure," said CEO Bruce Cozadd.
Shares of the company are gaining 1.62% at $57.75 in after-hours trading on the Nasdaq.
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