PARSIPPANY, N.J., Feb. 19, 2013 /PRNewswire/ -- Actavis, Inc. (NYSE: ACT) today reported net revenue increased 13 percent to $1.75 billion for the fourth quarter 2012, compared to $1.54 billion in the fourth quarter 2011. On a non-GAAP basis, diluted earnings per share for the fourth quarter 2012 was $1.59, compared to $1.77 per diluted share in the fourth quarter 2011, a decline of 10%. GAAP earnings per diluted share for the fourth quarter 2012 were $0.21, compared to $0.75 in the prior year period. Fourth quarter 2011 earnings includes the launch of generic Lipitor® which contributed $0.64 of non-GAAP earnings per diluted share to the prior-year period compared to $0.03 in the fourth quarter of 2012.
For the fourth quarter 2012, adjusted EBITDA was $393.0 million, compared to $393.4 million for the fourth quarter 2011.
Cash and marketable securities were $328.0 million as of December 31, 2012.
For the full year 2012, net revenue increased 29 percent to $5.9 billion, compared to net revenue of $4.6 billion for full year 2011. On a non-GAAP basis, 2012 earnings per diluted share increased 26% to $6.00 per diluted share compared $4.77 per diluted share in 2011. GAAP earnings per diluted share were $0.76 for the full year 2012, compared to $2.06 in 2011. Adjusted EBITDA for the full year 2012 increased 26 percent to $1.4 billion, compared to full year 2011 adjusted EBITDA of $1.1 billion. Cash flow from operations was $665.8 million.
Fourth quarter and full year 2012 results for Actavis, Inc. include results of legacy Actavis as of November 1, 2012. Refer to the attached reconciliation tables for adjustments to GAAP earnings.
"With the close of the Actavis acquisition and combination of our two companies, under our new global name, Actavis, Inc., we are beginning 2013 on a solid commercial and financial foundation, well-pos
|SOURCE Actavis, Inc.|
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