Recordati's 1st-qtr 2015 earnings leap 15.9%

Italian pharma company Recordati (RECI: MI) this morning reported first-quarter 2015 financials, showing the consolidated revenues were 275.7 million euros ($324.5 million), up 5.9% compared to the same period of the preceding year. International sales grow by 10.6%. The company’s shares gained 1.3% to 18.25 euros by midday.

Earnings before interest, taxes, depreciation and amortization (EBITDA)) came in at 82.8 million euros, a year-on-year rise of 15.9%. Operating income was 73.5 million euros, up 18.1%. Net income increased 21.5% to 52.0 million euros

"The first quarter results show continued revenue growth and further improvement of our profitability," commented Giovanni Recordati, chairman and chief executive, adding: "For the full year 2015 we confirm our expectations to achieve sales of more than 1,000 million euros, operating income of around 250 million euros and net income of around 175 million euros."