UPDATE: Valeant Posts Upbeat Q4 Profit

Valeant Pharmaceuticals International

posted a profit in the fourth quarter. Valeant posted its quarterly net income of $123.8 million, or $0.36 per share, versus a year-ago loss of $89.1 million, or $0.29 per share. Excluding one-time items, it earned $2.15 per share. Its revenue jumped to $2.06 billion. However, analysts were projecting a profit of $2.06 per share on revenue of $2.06 billion. Valeant shares gained 1.94% to $149.14 in pre-market trading.