Par Pharmaceutical Companies Inc. (PRX: News ) reported first-quarter net income of $16.1 million or $0.48 per share, compared to $1.4 million or $0.04 per share in the same quarter last year.
On an adjusted basis, earnings were $0.49 per share, compared to $0.17 per share in the year ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues increased to $204.0 million from $154.9 million in the comparable quarter last year. Analysts expected the company to report revenue of $170.23 million for the quarter.
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