Endo Health Solutions Inc.,(ENDP), a provider of specialty healthcare solutions, reversed to a profit in the first quarter from loss last year, while adjusted earnings per share came in line with estimates. The company further affirmed its full year view.
For the three-month period, the firm reported net income of $15 million or $0.14 per share, compared with the loss of $106 million or $0.75 per share for the corresponding period last year. The net income for the period included a charge of $68 million for the period to reflect the impact of an accrual for certain product liability claims.
On an adjusted basis, the firm reported net income of $123 million or $1.09 per share for the quarter. On average, nineteen polled by Thomson Reuters expected earnings per share of $1.09 for the first quarter. Analysts' estimates typically exclude one-time items.
The firm generated revenues of $709 million compared with $691 million reported during the comparable period last year. The Street expected the firm to report revenues of $739.9 million for the quarter.
For the year, the company still expects earnings in the range of $4.40 to $4.70 per share and revenues of $2.80 billion to $2.95 billion. Analysts expect earnings per share of $4.50 on revenues of $2.90 billion.
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