Actavis Reiterates 2013 Non-GAAP Earnings View - Quick Facts

(RTTNews) - Actavis plc (ACT), a global specialty pharmaceutical company, reiterated that it expects 2013 non-GAAP earnings per share to be modestly above the high-end of its previous forecast. Analysts polled by Thomson Reuters expect the comapny to report 2013 profit per share of $9.35.

The company expects full year 2014 revenues above $10 billion, and full year 2014 non-GAAP earnings per share to be between $12.60 and $13.10. GAAP earnings per share is 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 comapny to report 2014 profit per share of $12.89, on revenue of $10.49 billion.

Todd Joyce, Actavis' CFO, said, "Actavis is in a strong position to deliver growth and continue generating strong cash flow to support the rapid pay-down of debt. We exceeded expectations by ending the year below 2.8x Debt to adjusted EBITDA, and expect to generate operating cash flow, assuming no major acquisitions, sufficient to further reduce leverage to 2.2x by the end of 2014."