Shire Sees Earnings, Revenue Climb in First Quarter
April 29 2016 - 7:58AM
Dow Jones News
By Denise Roland
Shire PLC (SHP.LN)said earnings and revenue climbed in the first
quarter thanks to strong sales of several rare disease medicines
and its blockbuster pill for attention-deficit hyperactivity
disorder, or ADHD.
The Dublin-based drug maker said net income rose 2% to $419
million in the three months to March 31, from $410 million a year
earlier. Revenue climbed 15% to $1.71 billion from $1.49 billion
last year. Analysts expected net income of $487 million and revenue
of $1.7 billion.
Non GAAP operating income, a measure which strips out one-time
gains or impairments, increased 17% to $797 million.
The strong dollar cut into Shire's results. Stripping out the
effect of currency movements, revenue increased 17% and non GAAP
operating income rose 16%.
Contact Denise Roland at denise.roland@wsj.com
(END) Dow Jones Newswires
April 29, 2016 07:43 ET (11:43 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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