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Perrigo preliminary 2016 net sales $5.6 billion

Staff Writer |
Perrigo company announced select preliminary unaudited results for the calendar year ended December 31, 2016.

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The company delivered preliminary unaudited calendar year 2016 record reported net sales of $5.6 billion and adjusted net sales of $5.5 billion.

Unaudited calendar year 2016 preliminary reported loss per diluted share is in a range of $(28.85) - $(29.00) primarily due to goodwill and intangible asset impairment charges of $5.4 billion; with preliminary adjusted earnings per diluted share in the range of $7.10 - $7.25

Unaudited calendar year 2016 preliminary reported operating loss is $(4.65) billion - $(4.68) billion; with preliminary adjusted operating income of $1.42 billion - $1.44 billion

Full year 2016 cash flow from operations is expected to be $1.01 billion, which exceeds the company's previously revised guidance range of approximately $900 million.

The company expects 2017 net sales to be in the range of $5.0 billion to $5.2 billion, which includes the cancellation of $220 million of unprofitable distribution agreements in the CHCI business.

The company expects calendar year 2017 GAAP reported earnings per diluted share to be in the range of $3.39 to $3.74 and adjusted earnings per diluted share to be in the range of $6.30 to $6.65.


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