SAINT HELIER (dpa-AFX) - Shire plc (SHP.L, SHPGY) reported that its fourth-quarter net income was $263.7 million, up from $173.5 million in the same quarter last year. On a US GAAP basis, earnings per ADS were up 51% to $1.33 from $0.88 last year.
Non GAAP earnings per ADS rose to $1.51 from $1.03 last year, due to the higher Non GAAP operating income, partially offset by a higher Non-GAAP effective tax rate of 19% for the fourth-quarter 2011 as the favorable effect of certain tax credits in fourth-quarter 2010 were not repeated in the fourth-quarter 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $1.37 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $1.14 billion from $931.2 million in the prior year quarter. Fourteen analysts had consensus revenue estimate of $1.13 billion for the quarter.
The company anticipates that gross margins will be marginally lower in 2012 reflecting the full year impact of our acquisition of ABH. The company said that it looks forward to good earnings growth in 2012. Analysts expect the company to report earnings of $6.04 per share for fiscal 2012.
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