Actavis Sees FY 2012 EPS $5.85-$5.95 vs $5.93 Est
Actavis (NYSE: ACT), formerly Watson Pharmaceuticals, Inc., today provides an in-depth look into the newly combined company's global commercial operations, diversified business structure and outlook for continued long-term growth during its fourth annual Investor Meeting in New York.
In conjunction with the meeting, the Company announces 2012 non-GAAP earnings per diluted share are expected to be at the high-end of the previously forecasted range of $5.85 to $5.95, an increase of 25 percent over 2011 full year non-GAAP earnings. The Company expects full year 2012 revenues of approximately $5.9 billion, an increase of 29 percent over 2011.
"2012 was a landmark year for our Company as we continued our evolution into a global specialty pharmaceutical leader," said Paul Bisaro, President and CEO of Actavis. "Total revenue grew at approximately 29 percent, non-GAAP earnings per share grew an exceptional 25 percent and cash flow from operations was in excess of $600 million."
"We enter 2013 as the world's third largest global generic company, with a strong, sustainable financial foundation that is well-positioned for