Perrigo Company (Nasdaq:PRGO; TASE:PRGO) today reported higher revenue, but lower profits, for its third fiscal quarter of 2013, which ended in March, and reaffirmed its guidance for the fiscal year, which ends in June.
Revenue rose 18% to a record $920 million for the third fiscal quarter from $778 million for the corresponding quarter of 2012. The company attributed the growth to its acquisitions of the Sergeant's and Rosemont Pharmaceuticals, which added $40 million in sales, $41 million in new product sales, and $61 million organic business growth.
GAAP net profit fell 3.3% to $111.9 million ($1.18 per share) for the third fiscal quarter from $115.7 million for the corresponding quarter, but non-GAAP net profit rose 1.1% to $134 million ($1.42 per share) from $132.7 million.
Perrigo missed the analysts' consensus of earnings per share of $1.44 on $935.4 million revenue.
Perrigo reaffirmed its full-year profit guidance, given in February, following the closing of the Rosemont acquisition. It forecasts GAAP-based earnings per share of $4.67-487, up from earnings per share of $4.18 in fiscal year 2012, and non-GAAP earnings per share of $5.53-5.73, up 11-15% from $4.99 in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on May 7, 2013
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