Salix Pharma. Q4 Profit Declines; Provides Q1 Outlook

(RTTNews.com) - Salix Pharmaceuticals, Ltd. ( SLXP ) Thursday reported net income for the fourth-quarter of $17.6 million or $0.28 per share, compared to $33.6 million or $0.56 per share in the same period last year.

Adjusted earnings were $51 million or $0.81 per share. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.79 per share for the quarter. Analysts' estimates typically exclude special items.

Net product revenues were $198.17 million, up from $155.18 million in the year-ago quarter, while sixteen analysts expected revenues of $199.62 million.

In line with the full year 2013 guidance, for the first quarter of 2013 the company anticipates total company product revenue of about $200 million and adjusted net income to be approximately $40 million, or $0.63 per share.

Analysts currently expect first quarter earnings of $0.69 per share on revenues of $206.14 million.

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