Published on April 22nd, 2017 | by itadmin
Endo Posts Q4 Financial Results That Beat Estimates
Endo International PLC (ENDP) recently posted their financial results for the fourth quarter of the 2017 fiscal year. The company based in Dublin, Ireland reported their earnings, which proved to be better than the market and analysts had expected.
Endo International therefore reported a loss for the quarter of $53.5 million, which worked out to a loss per share of $0.35. This is compared to the $776 million in losses the company generated during the same quarter of the previous year, which equated to a loss per share of $6.74 at the time. The company’s earnings per share came in at $1.16 after exclusion of one-off items.
The company saw their revenues increase by 36.8 percent, to reach $800 million. Analysts had expected the company to generate revenues of $788 million and earnings per share of $1.12.
Endo International’s revenues generated by US branded pharmaceuticals declined by 3 percent to reach $246 million for the quarter. Net sales of US generic products grew by 70 percent, coming in at $337 million. The international pharmaceuticals unit achieved $79.7 million in sales for the quarter. Sales of devices increased from $132 million to $137 million.
Rajiv De Silva, the Chief Executive Officer and President of Endo, stated that they were proud of themselves for the progress made in rebuilding Endo’s business in 2017. He explained that they had done through a variety of strategic undertakings, as well as by focusing on improving organic growth and growing the research and development pipeline. The efforts they made as well as the announcement that they will be selling the AMS Prostate Health and Men’s Health segments have helped them continue turning the firm into one of the biggest worldwide specialty pharmaceutical companies. This is what has also allowed them to offer solid performance from a financial standpoint, according to De Silva.
Endo is expecting to deliver adjusted earnings per share between $4.35 and $4.55 for the entire year, whereas revenues are predicted to come in between $2.9 billion and $3 billion.
Endo also stated they would be selling their American Medical Systems’ Prostate and Men’s Health segments for $1.65 billion. Boston Scientific (BSX) will be purchasing the two units from Endo.
Endo International saw their shares advance by 1.05 percent, thus trading at $86.5 during pre-market open trading. The company has been trading between $53.62 and $89.88 over the past 52 weeks. Endo International has a market cap of $14.81 billion.