Actavis Posts Loss In Q4, Adj. EPS Tops View; Backs FY14 Forecast - Quick Facts

(RTTNews) - Specialty pharmaceutical company Actavis Plc (ACT) reported Thursday that its fourth-quarter loss attributable to shareholders was $148.4 million or $0.86 per share, compared to prior year's profit of $28 million or $0.21 per share.

Adjusted earnings per share was $3.17, compared to $1.59 per share in the fourth quarter 2012. On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $3.04 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net revenues climbed 59 percent to $2.78 billion from $1.75 billion a year ago. Analysts estimated revenues of $2.66 billion for the quarter.

For the quarter, adjusted EBITDA increased 108 percent to $817.1 million from last year's $393 million.

Looking ahead, the company affirmed its fiscal 2014 forecast presented at its analyst day on January 31.

The company continues to expect full year 2014 revenues above $10 billion, and non-GAAP earnings per share to be between $12.60 and $13.10. GAAP earnings per share is still expected to be between $2.60 and $3.10. Adjusted EBITDA for 2014 is expected to be between $3.15 billion and $3.25 billion.

Analysts polled by Thomson Reuters expect the company to report 2014 profit per share of $12.99, on revenue of $10.86 billion.

As a result of the recently announced acquisition of drug maker Forest Laboratories Inc. (FRX), Actavis said it plans to provide an updated financial forecast for the year following the close of the acquisition which is anticipated to occur mid-year 2014.