PERRIGO REPORTS RECORD FOURTH QUARTER & FISCAL YEAR REVENUE
PERRIGO REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR REVENUE, EARNINGS AND CASH FLOW FROM OPERATIONS
Full-year revenue from continuing operations increased $418 million, or 15%, to a record $3.2 billion. GAAP income from continuing operations for the full year increased 15% to $393 million, or $4.18 per diluted share. Adjusted income from continuing operations for the full year increased 25% to a record $469 million, or $4.99 per diluted share. Record full-year cash flow from operations of $513 million. Fiscal fourth quarter GAAP income from continuing operations increased 25% to $107 million, or $1.14 per diluted share, while adjusted income from continuing operations increased 27% to $121 million, or $1.28 per diluted share, as revenue increased $127 million, or 18%, to $832 million. Management expects full-year fiscal 2013 adjusted earnings per share to be in a range of $5.30 to $5.50 per diluted share, an increase of 6% to 10% from fiscal 2012’s $4.99 per diluted share.
ALLEGAN, Mich. – August 16, 2012 – Perrigo Company (Nasdaq: PRGO; TASE) today announced results for its fourth quarter and full year ended June 30, 2012. Perrigo’s Chairman and CEO Joseph C. Papa commented, “For the sixth straight year, we delivered year-over-year record sales and earnings while continuing to make investments in our facilities and production processes which we believe will further enhance our own already high standards of excellent product quality. During this fiscal year, we also announced the acquisition of CanAm Care to broaden our diabetes category offerings, multiple supply agreements for infant formula in China and numerous new product launches. The penetration of store brand share in the U.S. market continues to gain momentum as retailers and patients continue to turn to high quality, affordable alternatives for their healthcare needs. We look forward to another great year, with many new products in the pipeline across all segments.”