Perrigo Reports Record First Quarter Revenue And Adjusted Earnings And Raises Full Year Adjusted EP... ( ALLEGAN Mich. Nov. 7 2012 /- Per...)

Perrigo Reports Record First Quarter Revenue And Adjusted Earnings And Raises Full Year Adjusted EPS Guidance

Date:11/7/2012

ALLEGAN, Mich., Nov. 7, 2012 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO; TASE: PRGO) today announced results for its first quarter ended September 29, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120301/DE62255LOGO )

Perrigo's Chairman and CEO Joseph C. Papa commented, "We have started fiscal 2013 well, delivering record first quarter revenue and adjusted earnings. We also delivered all-time record adjusted gross and operating margins. Store brand OTC market share continues to grow. Our Consumer Healthcare segment's revenue grew 9.4% from a record first quarter last year. Our Rx segment continued its excellent performance, which was driven by the acquisition of Paddock Labs, new product sales and strong organic Rx results, combined with our continued focus on quality and R&D. Clearly we are focused on the results from our Nutritionals segment and the team has an action plan in place for the rest of the year. We believe our value proposition continues to resonate well with consumers."

Refer to Table I at the end of this press release for adjustments in the current year and prior year periods and additional non-GAAP disclosure information. The Company's reported results are summarized in the attached Condensed Consolidated Statements of Income, Balance Sheets and Cash Flows. Perrigo Company
(in thousands, except per share amounts)
(see the attached Table I for reconciliation to GAAP numbers)Fiscal 2013

Fiscal 2012First Quarter

Ended

First Quarter

Ended

YoY 9/29/2012

9/24/2011

% ChangeNet Sales

$769,810

$725,295

6.1%Reported Net Income

$105,580

$70,458

49.8%Adjusted Net Income

$119,467

$103,320

15.6%Reported Diluted
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SOURCE Perrigo Company
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