Watson 3rd-qtr EPS jumps 24%, as revenues rise 19%
US generic drugmaker Watson Pharmaceuticals (NYSE: WPI) has reported that net income for the third quarter 2012 increased 24.2% to $172.3 million or $1.35 per diluted share on a non-GAAP basis. Non-GAAP net income for the third quarter 2012 included $6.7 million or $0.05 per share related to the favorable settlement of a tax audit and other tax benefits realized in the quarter, the company noted.
Net revenue increased 18.8% to $1.29 billion. On a GAAP basis, net income increased by $8.6 million or 13% to $76.7 million or $0.60 per diluted share compared to earnings of $68.1 million or $0.54 per diluted share in the third quarter 2011.
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