Salix Pharma Reports Q2 Non-GAAP EPS Of $1.59 - Quick Facts

(RTTNews) - Salix Pharmaceuticals, Ltd. (SLXP) reported second-quarter net icome of $3.28 million or $0.04 per share, compared to $21.00 million or $0.32 per share, last year. Non-GAAP net income was $120.0 million or $1.59 per share, for the quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.72 for the quarter. Anaysts' estimates typically exclude special items.

Net product revenues increased to $382.00 million from $235.44 million, a year ago. Analysts expected revenue of $399.69 million for the quarter. The company noted that the revenue growth was primarily driven by the Santarus acquisition.

For the full year 2014, Salix expects: total net product revenue of approximately $1.6 billion. The company expects non-GAAP net income of approximately $475 million, or $6.16 per share. Analysts expect the company to report 2014 profit per share of $6.53 on revenue of $1.63 billion.

For the third quarter of 2014, Salix expects: total net product revenue of approximately $395.0 million. The company expects non-GAAP net income of approximately $121.0 million, or $1.53 per share. Analysts expect the company to report third-quarter profit per share of $1.78 on revenue of $405.31 million.