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Endo Reports First Quarter Financial Results And Announces Return To Steady Supply Of OPANA® ER And Voltaren® Gel
Date:5/1/2012

CHADDS FORD, Pa., May 1, 2012 /PRNewswire/ --

  • Total quarterly revenues of $691 million, increased 23 percent versus prior year; Driven by full quarter addition of AMS as well as Qualitest revenue growth of 8 percent. 
  • Adjusted diluted EPS of $0.87, aligned with prior guidance of below $0.90.
  • Reported quarterly diluted loss per share of $0.75 versus earnings per share of $0.46 for prior year.
  • Management expects return to year-over-year adjusted diluted earnings growth for remainder of 2012.
  • OPANA ER and Voltaren Gel now in steady supply;  Resolving temporary supply disruption announced in early January. 
  • Endo (Nasdaq: ENDP) today reported financial results for the first quarter of 2012.

    Total revenues during the first quarter of 2012 increased 23 percent to $691 million, compared with $560 million in the same quarter of 2011, reflecting organic growth and the acquisition of AMS.  Endo incurred a net loss for the three months ended Mar. 31, 2012 of $87 million or $0.75 reported diluted loss per share, compared with net income of $56 million reported in the comparable 2011 period or $0.46 reported diluted earnings per share.  The 2012 net loss was primarily driven by a one-time charge related to a first quarter 2012 accrual stemming from a 2010 litigation settlement with Impax Laboratories Inc. (Impax).  Additionally, adjusted net income for the three months ended March 31, 2012, was $106 million, down 12 percent, compared with $120 million in the same period in 2011.  Adjusted diluted earnings per share for first quarter 2012 were $0.87, down 13 percent from $1.00 reported in 2011.

    "I'm extremely proud of the response by the organization in resolving the challenging, but temporary, constraints to supplies of som
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