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Perrigo Reports Record Revenue and Adjusted Earnings
Date:5/7/2013

48.7%

-300 bps 

The Rx Pharmaceuticals segment third quarter net sales increased 22% to $189 million due primarily to new product sales of $18 million, $8 million in sales related to the February 11th 2013 acquisition of Rosemont, and strong prescription volumes evidenced by an increase in existing product sales of $7 million.

The adjusted gross margin decreased due primarily to less favorable product mix. The adjusted operating margin was impacted by higher distribution, selling, general and administrative costs and the inclusion of Rosemont.

API

 

 

API Segment (in thousands)(see the attached Table II for reconciliation to GAAP numbers)Fiscal 2013

Fiscal 2012Third

 Quarter
Ended

Third

 Quarter

Ended

 

 

YoY3/30/2013

3/31/2012

% ChangeNet Sales

$41,114

$36,951

+11.3%Reported Gross Profit

$20,915

$18,675

+12.0%Adjusted Gross Profit

$21,413

$19,165

+11.7%Reported Operating Income

$11,728

$10,462

+12.1%Adjusted Operating Income

$12,226

$10,952

+11.6%Reported Gross Margin

50.9%

50.5%

+40 bpsAdjusted Gross Margin

52.1%

51.9%

+20 bpsReported Operating Margin

28.5%

28.3%

+20 bpsAdjusted Operating Margin

29.7%

29.6%

+10 bpsThe API segment's net sales increased by 11% to $41 million due to an increase in existing product sales of $4 million primarily related to the continued successful launch of a customer's product.

Operating margins expanded on favorable mix of existing product sales offset slightly by higher distribution selling, general and administrative expenses.

Closing

Chairman, President and CEO Joseph C.
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SOURCE Perrigo Company
Copyright©2012 PR Newswire.
All rights reserved

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