PETAH TIKVA (dpa-AFX) - Teva Pharmaceutical Industries Limited (TEVA) reported that its second-quarter of 2013 GAAP net loss attributable to the company was $452 million or $0.53 per share compared to net income of $863 million or $0.99 per share in the second quarter of 2012.
The company had net non-GAAP charges of $1.470 billion, consisting mainly of legal expenses and amortization of purchased intangible assets in the latest-quarter.
Non-GAAP net income for the quarter declined to $1.018 billion or $1.20 per share, from $1.117 billion or $1.28 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.20 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter decreased to $4.924 billion, from $4.994 billion in the year ago quarter. Seven analysts had consensus revenue estimate of $4.94 billion for the quarter. The decrease was primarily attributed to a decline in revenues of generic medicines in the United States and Europe, and exchange rate fluctuations in our ROW markets, primarily in Japan, which had a negative impact of $55 million on sales. The decline was partially offset by higher revenues of COPAXONE and other specialty medicines in the United States and in Europe as well as by higher revenues from OTC products.
The Board of Directors, at its meeting on July 30, 2013, declared a cash dividend for the second quarter of 2013 of NIS 1.15 per share or approximately 32.2 cents per share according to the rate of exchange on July 30, 2013. The record date will be August 20, 2013, and the payment date will be September 2, 2013.
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