Perrigo Up 5% After Beating Earnings Estimates

Shares of Perrigo

are up 5% today after the company reported positive earnings this morning. Net sales for the second quarter of fiscal 2012 were $838 million, an increase of 17% over fiscal 2011. The increase was driven primarily by $69 million attributable to the Paddock Laboratories acquisition and new product sales of $55 million. Reported income from continuing operations was $100 million, or $1.06 per share, an increase of $10 million, up from $0.96 per share a year ago. Excluding charges as outlined in Table I at the end of this release, second quarter fiscal 2012 adjusted income from continuing operations was $112 million, or $1.20 per share, up 14% over 2011.