Salix Pharmaceuticals Posts Q4 Loss

(RTTNews) - Salix Pharmaceuticals, Ltd. (SLXP) Monday reported fourth-quarter net loss of $288 million or $4.51 per share, compared to a net income of $40 million or $0.58 per share last year.

Adjusted loss for the fourth quarter was $167 million or $2.61 per share, compared to adjusted profit of $48 million or $0.70 per share a year ago.

Total product revenues for the fourth quarter plunged to $13 million from $238 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.25 per share on revenues of $190.9 million for the quarter. Analysts' estimates typically exclude special items.

The company declined to issue an outlook due to its pending acquisition by Valeant.