Globes: Perrigo reports sixth year of revenue, profit growth
16 August 12 16:16–Perrigo Company (Nasdaq:PRGO; TASE:PRGO) today reported its sixth straight year of revenue and profit growth for its 2012 fiscal year, and predicts further growth in fiscal 2013. Perrigo has four business areas: over-the-counter drugs, nutritionals, consumer healthcare, and active pharmaceutical ingredients (API).
Revenue rose 18% to $832 million for the fourth fiscal quarter from $704.6 million for the corresponding fiscal quarter of 2011. GAAP-based net profit rose to $107.1 million ($1.14 per share) for the fourth fiscal quarter from $85.6 million for the corresponding quarter, and non-GAAP net profit rose to $120.9 million ($1.28 per share) from $95.4 million.
For the fiscal year as a whole, revenue rose 15% to $3.17 billion from $2.76 billion in fiscal 2011. The company said that most of the growth was because $245 million in sales attributable by its acquired companies Paddock Laboratories and CanAm Care, and new product sales of $211 million. GAAP-based net profit rose to $393 million ($4.18 per share) in fiscal 2012 from $340.6 million in fiscal 2011, and non-GAAP net profit rose 25% to $469.4 million ($4.99 per share) from $375.4 million.
In its guidance, Perrigo expects earnings per share from continuing operations to rise to $4.77-4.97 per share in fiscal 2013 from $4.18 in fiscal 2012, and its non-GAAP earnings per share to rise 6-10% to $5.30-5.50 $4.99. Perrigo chairman and CEO Joseph Papa said, “With macroeconomic tailwinds blowing in our favor, we look to build on that success in fiscal 2013.”…Read More>>
