Endo International Cuts 2016 Guidance, Shares Dip - Quick Facts

(RTTNews) - Endo International plc (ENDP, ENL.TO) announced, for the full twelve months ended December 31, 2016, at current exchange rates, the company estimates: total revenues to be between $3.87 billion and $4.03 billion; and adjusted EPS from continuing operations to be between $4.50 to $4.80. In February, Endo projected fiscal 2016 total revenues between $4.32 billion and $4.52 billion, and adjusted earnings per share from continuing operations between $5.85 and $6.20.

Analysts polled by Thomson Reuters expect the company to report profit per share of $5.69 on revenue of $4.30 billion. Analysts' estimates typically exclude special items. Shares of Endo International plc were down more than 25% after hours.

As part of Endo's ongoing Generics business integration and optimization efforts, the company announced an accelerated restructuring of its Generics product and R&D portfolio, as well as its manufacturing facility network. The restructuring is expected to result in approximately $60 million in net run rate cost savings in 2017 and is expected to result in the closure of the company's facility in Charlotte, North Carolina, and a workforce reduction at its facility in Huntsville, Alabama.

Endo said it is accelerating timelines for XIAFLEX R&D pipeline with plans to move at least five programs into clinical trials in the current year.