Concordia International (CXRX) Misses Q4 EPS by 92c, Sales Miss

Concordia International (NASDAQ: CXRX) reported Q4 EPS of $0.13, $0.92 worse than the analyst estimate of $1.05. Revenue for the quarter came in at $170.4 million versus the consensus estimate of $208.57 million.

• Consolidated revenue of $170.4 million, a decrease of 8.1% compared with the third quarter of 2016.
• GAAP net loss includes fourth quarter impairment charges of $562.1 million, and GAAP loss per share of $13.00. The impairment charges consisted of $306.9 million related to the Company's North America segment product portfolio and $255.2 million related to the Company's International segment product portfolio.
• Adjusted EBITDA1 of $80.5 million and adjusted earnings per share1 of $0.13, includes a charge of $4.5 million of previously capitalized research and development expenses related to the Company's phase 3 trial for Photodynamic Therapy with Photofrin®.
• Reported Concordia International segment results in the fourth quarter that were 1.3% higher on a constant currency basis2 compared to the third quarter of 2016, increasing from £104.6 million to £106.0 million in the period.
• Total cash and cash equivalents of $397.9 million as of December 31, 2016. The Company disclosed on February 1, 2017, that it made a cash payment of approximately £73.5 million to Cinven6 pursuant to the terms of the share purchase agreement to acquire the Company's International segment. During the year ended December 31, 2016, the Company generated cash flows from operating activities of $408.3 million versus $122.0 million in 2015.

For earnings history and earnings-related data on Concordia International (CXRX) click here.

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Calamp Corp. (CAMP) Misses Q2 EPS by 33c
• RCM Technologies (RCMT) Tops Q2 EPS by 17c