Valeant reports 4Q loss
LAVAL, Quebec (AP) — Valeant Pharmaceuticals International Inc. (VRX) on Tuesday reported a fourth-quarter loss of $336.4 million, after reporting a profit in the same period a year earlier.
The Laval, Quebec-based company said it had a loss of 98 cents per share. Earnings, adjusted for one-time gains and costs, were $2.50 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The drugmaker posted revenue of $2.79 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $2.74 billion.
For the current quarter ending in April, Valeant expects its per-share earnings to range from $1.30 to $1.55. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.66.
The company said it expects revenue in the range of $2.3 billion to $2.4 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.85 billion.
Valeant expects full-year earnings in the range of $9.50 to $10.50 per share, with revenue ranging from $11 billion to $11.2 billion.
Valeant shares have declined 32 percent since the beginning of the year. The stock has declined 64 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRX at http://www.zacks.com/ap/VRX
Keywords: Valeant Pharmaceuticals, Earnings Report