Apotex Health Corp. reported a $100.8 million second-quarter profit and raised its full-year revenue growth guidance to 9–10%.
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Apotex Health Corp. reported a second-quarter profit of $100.8 million, up from $82.9 million a year earlier, as it updated its outlook for the year.
The company said the profit amounted to 41 cents per diluted share for the quarter, compared with 43 cents per diluted share a year ago when it had fewer shares outstanding.
Revenue totalled $852.9 million for the quarter, rising from $843.5 million in the same period last year.
On an adjusted basis, Apotex said it earned 57 cents per diluted share, compared with an adjusted profit of 61 cents per diluted share a year earlier.
For its updated guidance, Apotex now expects full-year revenue growth of nine to 10 per cent, up from earlier expectations for upper mid-single digit growth of seven to eight per cent.
The drugmaker also raised its outlook for adjusted EBITDA margin, saying it expects the margin to come in at about 31 per cent, compared with earlier guidance for about 30 per cent.
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