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Perrigo Reports Record Earnings and Raises Full Year Adjusted EPS Guidance
Date:11/2/2010

ALLEGAN, Mich., Nov. 2, 2010 /PRNewswire-FirstCall/ --

  • Fiscal first quarter revenue from continuing operations increased $113 million, or 21 percent, to a record $641 million
  • Fiscal first quarter adjusted income from continuing operations increased 22 percent to a record $81 million, or $0.87 per share
  • Fiscal first quarter GAAP income from continuing operations increased 44 percent to $74 million, or $0.79 per share
  • Rx segment revenue grew 47 percent with reported operating income of $18 million and adjusted operating income of $20 million
  • Management raises expected full-year fiscal 2011 adjusted diluted earnings from continuing operations to be in a range of $3.60 to $3.75 per share, an increase of 19 percent to 24 percent compared to fiscal 2010 adjusted diluted EPS

  • Perrigo Company (Nasdaq: PRGO; TASE) today announced results for its first quarter ended September 25, 2010.

    Perrigo's Chairman and CEO Joseph C. Papa commented, "We have started fiscal 2011 well, delivering record earnings for the quarter. The market for store brands continues to grow, now representing approximately 29% of over-the-counter (OTC) and nutritional sales dollars at retail and up 400 basis points in the past two years. Our Rx segment continued its strong performance, which was driven by new product sales and growth in over-the-counter Rx (ORx) combined with our continued focus on quality and R&D. Our value proposition continues to resonate well with consumers in all economic conditions."

    Following the acquisition of PBM Holdings, Inc. (PBM), the Company has realigned its reportable segments to include a new reportable segment, Nutritionals. The financial information in this press release, including the attached tables, reflects the realignment of the Company's reportable segments, as well as the elimina
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    SOURCE Perrigo Company
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