(By Balachander) Warner Chilcott Plc (NASDAQ: WCRX), the women healthcare company, posted a 38 percent increase in net income for the fourth quarter amid lower revenue of its postmenopausal osteoporosis treatement. Results topped market expectations.
GAAP earnings increased to $124 million or $0.49 per share for the fourth quarter from $90 million or $0.36 per share in the comparable period of last year.
Adjusted cash net income (CNI) was 91 cents a share for the three months ended Dec. 31, 2012.
Revenue fell 5 percent to $612 million as revenue of postmenopausal osteoporosis treatement ACTONEL declined 42 percent and decreases in the U.S. oral bisphosphonate market.
Wall Street analysts, on average, expected earnings of $0.73 per share on revenue to drop 12.50 percent to $565.2 million.
Selling, general and administrative fell 16 percent, while cost of sales increased 18 percent.
Looking ahead for the full year, the Ireland-based company had earlier this month said it expects adjusted CNI per share in the range of $3.20 to $3.30, on revenue between $2.30 billion and $2.40 billion. Analysts expect earnings of $3.32 per share on revenue of $2.35 billion.
The company's other principal products include ATELVIA to treat postmenopausal osteoporosis; LOESTRIN 24 FE and LO LOESTRIN FE, which are oral contraceptives for the prevention of pregnancy; ESTRACE cream, a vaginal cream for the treatment of vaginal and vulvar atrophy.
WCRX shares, which have been trading in the 52-week range of $10.85 to $23.28, closed at $13.76 on Thursday.