Salix Pharma Q4 Profit Rises; Issues Q1, FY14 Outlook

(RTTNews) - Salix Pharmaceuticals, Ltd. (SLXP) Thursday reported fourth-quarter net income of $52.3 million, or $0.76 per share, compared to $17.6 million, or $0.28 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $73.5 million or $1.06 per share, up from $50.9 million or $0.81 per share in the prior year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.93 per share for the quarter. Analysts' estimates typically exclude special items.

Total product revenues increased 30 percent to $257.61 million from $198.17 million last year. Analysts expected revenues of $247.29 million.

Looking ahead to the first quarter, the company expects to report adjusted earnings of $0.85 per share and total product revenue of $373 million. Analysts currently expect first-quarter earnings of $1.35 per share on revenue of $372.21 million.

For the fiscal 2014, the company expects to report adjusted earnings of $6.46 per share and total product revenue of $1.6 billion. Analysts currently expect fiscal 2014 earnings of $5.98 per share on revenue of $1.59 billion.