Endo International plc reported that its net loss for the first-quarter ended March 31, 2023 narrowed to $3.28 million or $0.01 per share from $71.97 million or $0.31 per share in the prior year.
Loss from continuing operations in first-quarter 2023 was $3 million compared to $65 million in first-quarter 2022. Reported net loss per share from continuing operations in first-quarter 2023 was $0.01 compared to $0.28 in first-quarter 2022. The results were primarily due to lower interest expenses as a result of the Chapter 11 filing as well as lower operating expenses, asset impairment and litigation-related charges, partially offset by decreased revenues and increased expenses related to the Chapter 11 reorganization process.
Adjusted net income per share from continuing operations in first-quarter 2023 was $0.82 compared to $0.66 in first-quarter 2022. The results were primarily driven by lower interest and adjusted operating expenses, which were partially offset by decreased revenues.
Total revenues were $515.27 million in first-quarter 2023, a decrease of 21% from last year. This decrease was primarily attributable to decreased revenues from the Sterile Injectables segment, partially offset by in-creased revenues from the Generic Pharmaceuticals segment.
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