Highs and lows as Actavis 2nd qtr results meet expectations
US generics drug major Actavis (NYSE: ACT) reported its net revenue increased 46.8% to $1.99 billion for the second quarter 2013, compared to $1.36 billion in the second quarter 2012.
On a non-Generally Accepted Accounting Principles (GAAP) basis, diluted earnings per share for the second quarter 2013 were $2.01, an increase of 41.5%, just beating the consensus estimate of $2.00 from Stock Ratings Network reports.
On a GAAP basis, the company reported a loss per share for the second quarter 2013 of $4.27, compared to a loss per share of $0.49 in the prior year period. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was $474.5 million, compared to $333.0 million for the like 2012 period. Cash and marketable securities were $234.9 million as of June 30.
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