Impax Laboratories Posts Q4 Loss - Quick Facts

(RTTNews) - Impax Laboratories, Inc. (IPXL) reported a fourth-quarter net loss of $9.62 million or $0.14 per share, compared to profit of $4.80 million or $0.07 per share, prior year. Adjusted net loss was $1.64 million or $0.02 per share, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Total revenues declined year-over-year to $100.74 million, from $141.08 million. Analysts expected revenue of $119.01 million, for the quarter. The company said the reduction includes $19.2 million of customer credits recorded in the fourth quarter relating to certain pricing activities. The remaining $20.1 million decline in fourth quarter 2013 revenues is primarily due to lower Zomig tablet and ZMT product sales, partially offset by higher generic product sales as a result of five new products launched in 2013.

The company currently estimates sales of the authorized generic RENVELA allotment to produce gross profit of approximately $50.0 million to $70.0 million in 2014, which corresponds to 7% to 10% of the total 2013 sevelamer HCL and carbonate sales in the U.S.