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Perrigo Reports Record Fourth Quarter and Fiscal Year Revenue and Earnings
Date:8/15/2013

the inclusion of Rosemont.

API

API Segment Q4 Results
(dollars in millions)
(see the attached Table II for reconciliation to GAAP numbers)Fiscal 2013

Fiscal 2012 

Fourth
Quarter

Ended

Fourth
Quarter

Ended

 

 

YoY6/29/2013

6/30/2012

% Change*Net Sales

$40.9

$38.4

+6.4%Reported Gross Profit

$18.7

$25.7

-27.3%Adjusted Gross Profit

$19.2

$26.2

-26.7%Reported Operating Income

$10.0

$17.5

-42.8%Adjusted Operating Income

$10.5

$18.0

-41.5%Reported Gross Margin

45.7%

66.8%

-2,110 bpsAdjusted Gross Margin

46.9%

68.1%

-2,110 bpsReported Operating Margin

24.5%

45.6%

-2,110 bpsAdjusted Operating Margin

25.7%

46.8%

-2,110 bps*Adjusted margin changes as a percent to sales may not calculate due to rounding

The API segment's fourth quarter net sales increased by 6% to $41 million due primarily to product mix, offset by increased competition on specific products. Fourth quarter margins were impacted by lower sales of a generic finished dosage pharmaceutical product that was launched in the fourth quarter of fiscal 2012.

Guidance

As previously communicated, until the acquisition of Elan is completed, Irish Takeover Rules impose significant requirements on Perrigo in relation to the issuance of new information or guidance outside the scope of that which has already been disclosed in the acquisition announcement made pursuant to Rule 2.5 of the Irish Takeover Rules. Excluding the potential impact of the acquisition of Elan, the Company expects reported earnings for standalone Perrigo to be between $5.51 and $5.76 per diluted share as compared to $4.68 in fiscal 2013 and adjusted earnings to
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SOURCE Perrigo
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