Warner Chilcott (WCRX) Guides FY13 EPS Below Views
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Price: $19.76 +0.36%
Revenue Growth %: -13.4%
Financial Fact:
Provision for income taxes: 32M
Today's EPS Names:
CO, JW-A, FDS, More
Revenue Growth %: -13.4%
Financial Fact:
Provision for income taxes: 32M
Today's EPS Names:
CO, JW-A, FDS, More
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Warner Chilcott plc (Nasdaq: WCRX) today announced its view of anticipated full year 2013 financial results.
Total revenue for 2013 is expected to be in the range of $2.3 to $2.4 billion. The 2013 revenue expectations reflect, among other things, the anticipated growth of certain of the Company's promoted products, including LO LOESTRIN FE and ESTRACE CREAM, which the Company believes will be more than offset by the anticipated continued decline in ACTONEL revenues. The anticipated decline in ACTONEL revenues is based largely on the continued volume decreases expected in the U.S. bisphosphonate market and the ongoing impact of the loss of exclusivity in Western Europe and Canada. The Company also anticipates that it will commercially launch DELZICOL, its new 400 mg mesalamine product indicated for the treatment of ulcerative colitis, in March 2013.
Gross margin, as a percentage of total revenue, is anticipated to be approximately 87% in 2013 based on the forecasted product mix.
Total selling, general and administrative (SG&A) expense in 2013 is anticipated to be in the range of $750 to $800 million. Total R&D expense in 2013 is anticipated to be in the range of $115 to $135 million.
Based on the current view, 2013 GAAP net income is expected to be in the range of $362 to $387 million. Cash net income (or CNI, as defined below) in 2013 is anticipated to be in the range of $805 to $830 million. Using 251.5 million ordinary shares, the Company expects GAAP net income per share to be in the range of $1.44 to $1.54 and cash net income per share to be in the range of $3.20 to $3.30 per share for the 2013 fiscal year.
*** The Street is looking for FY13 revs of $3.58 billion and EPS of $3.58.
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Total revenue for 2013 is expected to be in the range of $2.3 to $2.4 billion. The 2013 revenue expectations reflect, among other things, the anticipated growth of certain of the Company's promoted products, including LO LOESTRIN FE and ESTRACE CREAM, which the Company believes will be more than offset by the anticipated continued decline in ACTONEL revenues. The anticipated decline in ACTONEL revenues is based largely on the continued volume decreases expected in the U.S. bisphosphonate market and the ongoing impact of the loss of exclusivity in Western Europe and Canada. The Company also anticipates that it will commercially launch DELZICOL, its new 400 mg mesalamine product indicated for the treatment of ulcerative colitis, in March 2013.
Gross margin, as a percentage of total revenue, is anticipated to be approximately 87% in 2013 based on the forecasted product mix.
Total selling, general and administrative (SG&A) expense in 2013 is anticipated to be in the range of $750 to $800 million. Total R&D expense in 2013 is anticipated to be in the range of $115 to $135 million.
Based on the current view, 2013 GAAP net income is expected to be in the range of $362 to $387 million. Cash net income (or CNI, as defined below) in 2013 is anticipated to be in the range of $805 to $830 million. Using 251.5 million ordinary shares, the Company expects GAAP net income per share to be in the range of $1.44 to $1.54 and cash net income per share to be in the range of $3.20 to $3.30 per share for the 2013 fiscal year.
*** The Street is looking for FY13 revs of $3.58 billion and EPS of $3.58.
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