Shire Plc. (SHPG, SHP.L) reported that its first-quarter net income slide to $64.8 million or 35.1 cents per ADS, from $238.4 million or 124.2 cents per ADS in the same quarter last year.
Non-GAAP earnings per ADS was 162.9 cents, up from 147.9 cents last year.
Total revenues for the quarter declined to $1.16 billion from $1.17 billion in the prior year quarter.
The company said it reiterated its confidence in delivering Non GAAP earnings growth in line with consensus earnings expectations for 2013. Based on the most recent consensus estimates compiled by Consensus Forecast Ltd, as of the date of this press release, of $6.67 Non GAAP earnings per ADS for the year ended 31 December 2013.
For the full year 2013, the company now anticipates product sales growth in the mid-to-high single digits.
The company continues to expect Royalties and other revenues to be 30-40% lower than 2012.
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