Par Pharmaceutical Companies, Inc. (PRX: News ) Thursday said net income for the fourth quarter was $17.50 million compared to $10.70 million last year. On a per share basis, profit was $0.48 versus $0.31 in the prior year.
Adjusted cash basis from continuing operations was $22.29 million compared to $25.80 million in the previous year. Cash earnings per share from continuing operations was $0.61 versus $0.74 in the previous year.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share. Analysts' estimates typically exclude special items.
Total revenues for the three months were $227.03 million compared to $290.32 million a year ago. Market expectation was for revenues of $210.69 million for the period.
The company attributed the rise in revenues principally to additional competition in metoprolol, meclizine, and clonidine.
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