Actavis sees robust 1st-qtr growth, but posts GAAP loss

Ireland-incorporated generics giant Actavis (NYSE: ACT) has reported strong first-quarter 2015 financials, but posted a loss as a results of acquisition (notably Allergan) and other costs. Actavis shares, which are up 14% since the start of 2015, gained around 3.3% to $302.51 in early trading today.

Actavis reported continued exceptional performance with net revenue increasing 59% to $4.23 billion for the quarter, compared with analysts’ expectations of $4.03 billion. On a non-generally accepted accounting principles (GAAP) basis, diluted earnings per share increased 23% to $4.30, topping the average estimate of six analysts surveyed by Zacks Investment Research for earnings of $3.84 per share. Non-GAAP EPS excluding Allergan and financing (shares and interest expense) related to Allergan was $4.59, representing 17% sequential improvement.

$1.85 GAAP loss per share