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Valeant Pharmaceuticals Reports 2012 First Quarter Financial Results
Date:5/3/2012

MONTREAL, May 3, 2012 /PRNewswire/ --

  • 2012 First Quarter Total Revenue $856 million, including $66 million related to divestiture of certain dermatology assets
  • Pro forma organic growth for the combined company, adjusting for the impact of foreign exchange and acquisitions, was approximately 11%
  • 2012 First Quarter GAAP EPS Loss of $0.04; Cash EPS $1.14
  • Excluding impact from dermatology divestiture, Cash EPS was $0.99
  • 2012 First Quarter GAAP Cash Flow from Operations was $167 million; Adjusted Cash Flow from Operations was $322 million  
  • 2012 Guidance increased to $4.45 - $4.70 Cash EPS
  • Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announces first quarter financial results for 2012.

    "We are pleased to see a solid start to what we expect will be another strong year for Valeant," said J. Michael Pearson, chairman and chief executive officer.  "With our current over performance in the base business, the achievement of higher synergies from our acquisitions completed in 2011 and the addition of the acquisitions consummated in 2012, we are pleased to significantly increase our Cash EPS guidance for 2012 to $4.45 - $4.70."

    Business PerformanceValeant's business continued to perform well in the first quarter of 2012 and - with the exception of the U.S. Neurology and Other segment - each business delivered strong growth, both in total and organic.  Total revenue was $856.1 million in the first quarter of 2012 as compared to $565.0 million in the first quarter of 2011, an increase of 52%.  Product sales were $768.4 million in the first quarter of 2012, as compared to $500.4 million in the year-ago quarter, an increase of 54% over the prior year.  Pro forma organic revenue growth, adjusting for the impact of foreign exchange a
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    SOURCE Valeant Pharmaceuticals International, Inc.
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