ROCKAWAY (dpa-AFX) - Warner Chilcott plc (WCRX) posted first-quarter 2012 GAAP net income of $113 million, or $0.45 per share, compared with a loss of $24 million, or $0.10 per share last year. Cash net income for the quarter was $249 million, higher than prior-year quarter's $197 million, with adjusted cash net income rising to $291 million or $1.16 per share from $266 million in the comparable period.
On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.92 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenue was $685 million, a 10% decrease from $757 million a year ago, primarily driven by a decrease in ACTONEL revenues of $86 million, due in large part to overall declines in the U.S. oral bisphosphonate market as well as the continued declines in ACTONEL rest of world net sales following the 2010 loss of exclusivity in Western Europe. The decrease was offset, in part, by revenue growth in certain other products, primarily ASACOL, LO LOESTRIN FE, ESTRACE Cream and ATELVIA. Combined, net sales of these products increased 33%, compared with a year before. Analysts estimated revenues of $648.46 million for the quarter.
For 2012, the company now expects adjusted CNI per share in the range of $3.30 - $3.40 versus its prior range of $3.60 - $3.70. Full-year total revenue guidance is lowered to $2.40 billion - $2.50 billion from its prior view of $2.50 billion - $2.60 billion. Analysts estimate earnings of $3.65 per share and revenue of $2.53 billion for 2012.
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