Endo Posts Upbeat Q1 Earnings, Lifts FY15 Forecast

Shares of

jumped more than 9 percent in pre-market trading after the company reported better-than-expected earnings for the first quarter and raised its earnings outlook for the full year. The company reported quarterly income from continuing operations of $150 million, or $0.85 per share, versus a year-ago loss from continuing operations of $47 million, or $0.37 per share. Its adjusted diluted earnings from continuing operations surged to $1.17 per share from $0.75 per share. Its revenue climbed 52 percent year-over-year to $714 million from $471 million. However, analysts were expecting a profit of $1.06 per share on revenue of $714.4 million. The average estimate among 12 Estimize users was for earnings of $1.11 per share and revenue of $736.08 million. Revenue from the U.S. Branded Pharmaceuticals business unit climbed 21 percent year-over-year to $285 million, while sales from International Pharmaceuticals business unit came in at $73 million. "We continued to make progress during the first quarter towards achieving a number of our strategic priorities for the year," said Rajiv De Silva , President and CEO of Endo. "Our diversified business helped us deliver strong financial results for the quarter and helps provide the flexibility to re-invest and re-deploy capital to drive growth." Endo now expects full-year earnings from continuing operations of $4.40 to $4.60 per share, versus earlier outlook of $4.35 to $4.55 per share. The company affirmed revenue forecast from continuing operations for full year 2015. Endo International shares climbed 9.09 percent to $94.95 in pre-market trading.