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Perrigo Reports Record Quarterly Revenue and Earnings and Raises Full Year Adjusted EPS Guidance
Date:2/1/2011

ALLEGAN, Mich., Feb. 1, 2011 /PRNewswire/ --

  • Fiscal second quarter revenue from continuing operations increased $135 million, or 23%, to $718 million
  • Fiscal second quarter GAAP income from continuing operations increased 43% to an all-time record $90 million, or $0.96 per share
  • Fiscal second quarter adjusted income from continuing operations increased 46% to $98 million, or $1.05 per share
  • Record second quarter cash flow from operations of $129 million
  • Management raises full-year fiscal 2011 adjusted diluted earnings from continuing operations guidance to $3.75-$3.90 per share from previously announced $3.60-$3.75 per share

  • Perrigo Company (Nasdaq: PRGO; TASE) today announced results for its second quarter and six months ended December 25, 2010.

    Perrigo's Chairman and CEO Joseph C. Papa commented, "We are very pleased with the performance this quarter. We delivered all-time record quarterly revenue and earnings, and record second quarter cash flow. Our Rx, Nutritionals and API segments all contributed to this strong performance. The performance came from core business strength, new product sales of over $63 million, and operating execution. Our Consumer Healthcare segment performed well and is enjoying strong demand for its products; however, despite improving sequentially, we continued to experience throughput pressures in manufacturing.  We will continue to improve during each coming quarter and expect to have those issues behind us by the end of our fiscal year. More consumers are benefitting from the value proposition of Perrigo's quality, affordable healthcare products and we look forward to serving even more of them in the future."  

    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 dis
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    SOURCE Perrigo Company
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