DUBLIN (AP) _ Perrigo Co. (PRGO) on Thursday reported a loss of $133.1 million in its first quarter.
On a per-share basis, the Dublin-based company said it had a loss of 93 cents. Earnings, adjusted for one-time gains and costs, came to $1.75 per share.
The results missed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share.
The drug company posted revenue of $1.38 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $1.35 billion.
Perrigo expects full-year earnings in the range of $8.20 to $8.60 per share.
Perrigo shares have declined 36 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. The stock has fallen 52 percent in the last 12 months.
and then gave a range. from what i see it fell in their range at a much reduced level....thats not a beat!
They trying to sugar coat the fact that they have reduced their numbers dramatically twice in last 6 months?
Either way conference call should enlighten us on the write down that is coming.
industry is in price war so all are experiencing big declines in earnings/cash flow and PRGO overpaid big for last acquisition which will need to be written down and cash flow is drying up here. PRGO has been diluting shares by doing expensive acquisitions with stock and debt leaving company in position like VRX and we know how badly that has ended.......stock down from 240 to 27
get ready for another big drop!
must be expecting more bad news!
even 1 million dollar buyback would cause stock to jump big
stock seems to be discounting bad quarter with loss but failing to look that navy sales have accelerated now from first quarter. Look for stock to rebound strongly on bad earnings. Company has 36 million cash and no debt and still growing rapidly.
write down of last purchase will also be a huge negative tomorrow when earnings are released. That figure will likely be a bomb shell to investors besides visibility of how bad earnings are. Executives incentives are based on growing sales without any meaniful earnings by using GAPP accounting, in other words sell more more and make less less.....great business plan! lol
I'm sure they won't make that mistake with RLYP knowing their are other bidders wanting it.
wait till news organization picks up the baton and reports "credible source" lol, shorts will dirty their pants again for the zillionth time!
The financing deal was just cosmetic to show they are covered if need be to go it alone and put a death nail into the shorts thesis they were going to dilute stock with low price issuance. It also gives them credibility to those that made low ball bids for the company thinking they were desperate for cash. They are in the seat driving this now, so when companies come knocking they can say get lost if your not willing to pay up.
PDUFA will cause a lot of interest in next few weeks. Any rejection, black box warning or delay will cause RLYP to rally hard and likely draw takeover bids
he is right on! It's ruined INVESTING in america. Now its this computer generated trading back and forth between them to make a few pennies a billion times a day! The problem when you have trillions in funds that can totally manipulate stock prices to what they want them to be and usually has nothing to do with fundamentals of a company or the economy.