Alere (ALR) Posts Q1 GAAP Loss of 18c/Share
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Alere (NYSE: ALR) reported Q1 EPS of ($0.18), $0.74 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $578 million versus the consensus estimate of $602.6 million.
On a Non-GAAP basis, the Company reported Non-GAAP adjusted EBITDA of $109 million in the first quarter of 2016, compared to $135 million in the prior year period. The year-over-year decline was driven primarily by incremental expenses related to the pending merger with Abbott, higher legal expenses associated with ongoing government investigations, and lower margins due to primarily to product sales mix and volume.
he Company is seeking an amendment to its secured credit agreement that, if approved, will provide an extension of the date by which the Company will file its second quarter 2016 financial statements under the secured credit agreement to September 13, 2016. The Company currently plans to file its second quarter 2016 Form 10-Q by September 13, 2016, and expects to pay approximately $3 million in fees to obtain the amendment.
For earnings history and earnings-related data on Alere (ALR) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Central Garden & Pet (CENT) Tops Q4 EPS by 8c; Guides FY17 EPS
- Five Below (FIVE): One of the Best Growth Stories in Retail - Guggenheim
Create E-mail Alert Related CategoriesEarnings
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!