Perrigo Company (Nasdaq:PRGO; TASE:PRGO) beat the analysts' revenue and earnings per consensus for its fourth fiscal quarter of 2010.
Perrigo posted $619 million revenue for the fourth fiscal quarter, 22% more than the $508 million for the corresponding quarter of 2009, and beating the analysts' consensus of $593 million.
Non-GAAP net profit rose to $66.2 million ($0.71 per share) for the fourth fiscal quarter from $46.9 million for the corresponding quarter, and beat the analysts consensus of $0.68 per share.
For its 2010 fiscal year, Perrigo's revenue rose to $2.27 billion from $2 billion in fiscal year 2009. GAAP-based net profit rose to $224.1 million ($2.41 per share) in 2010 from $141.1 million in 2010, and non-GAAP net profit rose to $262.6 million ($2.83 per share) from $174.6 million.
In its guidance for fiscal year 2011, Perrigo expects GAAP-based earnings per share from continuing operations of $3.08-3.28, or 28-36% growth over fiscal year 2010. It expects non-GAAP earnings per share of $3.40-3.60 in fiscal year 2011, 12-18% growth over 2010.
Perrigo chairman and CEO Joseph Papa said, "For the fourth straight year, we delivered year-over-year record sales, earnings and cash flow from operations."
Perrigo's share price rose 1.5% at the opening on Nasdaq to $57.80, giving a market cap of $5.2 billion. The share price fell 1.5% on the TASE today to NIS 218.70
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010