Perrigo Q2 net sales decreased 3 percentStaff Writer | August 10, 2016
Perrigo Company announced results for the second quarter ended July 2, 2016. Reported net sales were $1,481 million.
Perrigo Adjusted net sales were $1,437 million
Excluding any net sales contribution from held-for-sale businesses, adjusted net sales in the quarter were $1,437 million, a decrease of 3%, on a constant currency basis over the second quarter of 2015.
New product sales of $89 million were offset partially by $16 million in discontinued products.
Reported net income of $194 million, or $1.35 per share, included the favorable impact of a $30 million reduction in the non-cash goodwill impairment recorded in the first quarter of 2016, versus net income of $56 million, or $0.38 per share, in the prior year.
Excluding some charges, second quarter 2016 adjusted net income was $278 million, or $1.93 per share, versus adjusted net income of $320 million, or $2.18 per share for the same period last year. ■