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Endo Q2 revenues up 25%, adjusted EPS down 20%

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Staff Writer | August 9, 2016
Endo International reported second quarter 2016 financial results. Total revenues increased by 25 percent to $921 million compared to the same period in 2015.
Endo International
Endo International   GAAP net income increased to $390 million
This was primarily attributable to revenues related to the September 2015 Par acquisition.

GAAP net income from continuing operations increased to $390 million compared to a GAAP net loss from continuing operations of $(91) million during the same period in 2015, primarily attributable to a legal entity reorganization that resulted in the recognition of discrete net tax benefits of $448 million during the second quarter 2016.

GAAP net income per share from continuing operations for the three months ended June 30, 2016 was $1.75, compared to a GAAP net loss from continuing operations of $(0.49) in second quarter 2015.

Adjusted net income from continuing operations for second quarter 2016 decreased by 6 percent to $192 million compared second quarter 2015, driven primarily by an increase in interest expense, partially offset by higher operating margin.

Adjusted net income per share from continuing operations for the three months ended June 30, 2016 decreased 20 percent to $0.86 compared to second quarter 2015.

This decrease was mainly due to a decrease in adjusted net income from continuing operations resulting from the items listed above in this paragraph and an increase in the number of diluted weighted average shares outstanding.


 

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