Endo International plc (ENDP) saw its loss narrow to $218.92 million, or $0.98 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $1,050.44 million, or $5.02 a share. On the other hand, adjusted net income for the quarter stood at $225.52 million, or $1.01 a share compared with $214.74 million or $1.02 a share, a year ago.
Revenue during the quarter grew 18.59 percent to $884.34 million from $745.73 million in the previous year period. Gross margin for the quarter contracted 371 basis points over the previous year period to 36.96 percent.
Operating loss for the quarter was $35.99 million, compared with an operating loss of $777.20 million in the previous year period.
However, the adjusted operating income for the quarter stood at $332.55 million compared to $315.07 million in the prior year period. At the same time, adjusted operating margin contracted 465 basis points in the quarter to 37.60 percent from 42.25 percent in the last year period.
"During the third quarter 2016, Endo further sharpened its focus on operational execution. We have continued to deliver results across all of our businesses that are on-track or ahead of Company expectations for the quarter. Today we are reaffirming our full year 2016 revenue and adjusted diluted EPS financial guidance," said Paul Campanelli, President and CEO of Endo. "This is an important time for Endo. The leadership team is working closely and collaboratively to build on our strengths and develop a go-forward strategy that best positions the Company to improve the lives of the patients and customers we serve."
Operating cash flow turns positive
Endo International has generated cash of $443.38 million from operating activities during the nine month period as against cash outgo of $177.43 million in the last year period.
Cash flow from investing activities was $178.87 million for the nine month period as against cash outgo of $5,960.50 million in the last year period.
The company has spent $334.51 million cash to carry out financing activities during the nine month period as against cash inflow of $6,570.55 million in the last year period.
Cash and cash equivalents stood at $561.58 million as on Sep. 30, 2016, down 32.83 percent or $274.53 million from $836.11 million on Sep. 30, 2015.
Debt comes down
Endo International has recorded a decline in total debt over the last one year. It stood at $8,170.62 million as on Sep. 30, 2016, down 9.01 percent or $808.71 million from $8,979.33 million on Sep. 30, 2015. Total debt was 46.20 percent of total assets as on Sep. 30, 2016, compared with 41.80 percent on Sep. 30, 2015. Debt to equity ratio was at 1.35 as on Sep. 30, 2016, down from 1.40 as on Sep. 30, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
