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Watson Pharmaceuticals Inc (ACT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Actavis, Inc.

CIK: 884629

Exhibit 99.1

 

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NEWS RELEASE

 

CONTACTS:     Investors:
    Patty Eisenhaur
    (862) 261-8141
    Media:
    Charlie Mayr
    (862) 261-8030

Watson Full Year 2011 Net Revenue Increases 29% to $4.58 Billion;

- Full Year 2011 Non-GAAP EPS Increases 39% To $4.77 ; GAAP EPS $2.06 –

- Fourth Quarter 2011 Net Revenue $1.54 Billion –

- Fourth Quarter 2011 Non-GAAP EPS $1.77; GAAP EPS $0.75 –

PARSIPPANY, NJ – February 14, 2012 – Watson Pharmaceuticals, Inc. (NYSE: WPI) today reported net revenue increased 62 percent to $1.5 billion for the fourth quarter ended December 31, 2011, compared to $952.7 million in the fourth quarter 2010. On a non-GAAP basis, net income for the fourth quarter 2011 was $225.2 million or $1.77 per share, an increase of 93 percent, compared to $116.5 million or $0.93 per share in the fourth quarter 2010. GAAP earnings per share for the fourth quarter 2011 were $0.75, compared to $0.15 in the prior year period.

For the fourth quarter 2011, adjusted EBITDA increased 78 percent to $393.4 million, compared to $220.8 million for the fourth quarter 2010. Cash and marketable securities were $224.2 million as of December 31, 2011. Refer to the attached reconciliation tables for adjustments to GAAP earnings.

Full Year 2011 Results

For the full year 2011, net revenue increased 29 percent to $4.6 billion, compared to net revenue of $3.6 billion for full year 2010. On a non-GAAP basis, net income increased 42 percent to $603.8 million, or $4.77 per share for the full year 2011, compared to 2010 net income of $425.4 million, or $3.42 per share. GAAP earnings per share were $2.06 for the full year 2011, compared to $1.48 in 2010.

 

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The following information was filed by Actavis, Inc. on Tuesday, February 14, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Acquisitions And Divestitures
Acquisitions And Divestitures (details 1)
Acquisitions And Divestitures (details 2)
Acquisitions And Divestitures (details Textual)
Acquisitions And Divestitures (details)
Acquisitions And Divestitures (tables)
Balance Sheet Components
Balance Sheet Components (details)
Balance Sheet Components (tables)
Business Restructuring Charges
Business Restructuring Charges (details Textual)
Business Restructuring Charges (details)
Business Restructuring Charges (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Description Of Business
Fair Value Measurement
Fair Value Measurement (details 1)
Fair Value Measurement (details Textual)
Fair Value Measurement (details)
Fair Value Measurement (tables)
Goodwill, Product Rights And Other Intangibles
Goodwill, Product Rights And Other Intangibles (details 1)
Goodwill, Product Rights And Other Intangibles (details 2)
Goodwill, Product Rights And Other Intangibles (details)
Goodwill, Product Rights And Other Intangibles (tables)
Income Taxes
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (details1)
Income Taxes (tables)
Investments In Marketable Securities And Other Investments
Investments In Marketable Securities And Other Investments (details 1)
Investments In Marketable Securities And Other Investments (details Textual)
Investments In Marketable Securities And Other Investments (details)
Investments In Marketable Securities And Other Investments (tables)
Long-term Debt
Long-term Debt (details Textual)
Long-term Debt (details)
Long-term Debt (tables)
Other Income
Other Income (details)
Other Income (tables)
Other Long-term Liabilities
Other Long-term Liabilities (details)
Other Long-term Liabilities (tables)
Segments
Segments (details 1)
Segments (details 2)
Segments (details)
Segments (tables)
Share-based Compensation
Share-based Compensation (details)
Stockholders' Equity
Stockholders' Equity (details 1)
Stockholders' Equity (details Textual)
Stockholders' Equity (details)
Stockholders' Equity (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 1)
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details Textual)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
CIK: 884629
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-064014
Submitted to the SEC: Wed Feb 15 2012 9:49:29 PM EST
Accepted by the SEC: Thu Feb 16 2012
Period: Saturday, December 31, 2011
Industry: Pharmaceutical Preparations

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