Actavis, Inc. (ACT) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2013

Exhibit 99.1

 

NEWS RELEASE

 

Actavis Net Revenue Increases 57% to $2.01 Billion in Third Quarter 2013; Non-GAAP EPS Increases 55% to $2.09

- GAAP Earnings Per Share of $0.49 -

- 61% Increase in Adjusted EBITDA to $489 million -

- Company Updates 2013 Forecast, Provides Preliminary 2014 Outlook -

DUBLIN – October 29, 2013 –

Actavis plc (NYSE: ACT) today reported net revenue increased 57 percent to $2.01 billion for Actavis, Inc.’s third quarter 2013, compared to $1.29 billion in the third quarter 2012. On a non-GAAP basis, diluted earnings per share for the third quarter 2013 were $2.09, compared to $1.35 per diluted share in the third quarter 2012, an increase of 55 percent. GAAP earnings per diluted share for the third quarter 2013 were $0.49, compared to GAAP earnings per diluted share of $0.60 in the prior year period. These reported results exclude any results from Warner Chilcott plc, which Actavis plc acquired on October 1, 2013.

For the third quarter 2013, adjusted EBITDA increased 61 percent to $489.2 million, compared to $304.6 million for the third quarter 2012. Cash flow from operations for the third quarter of 2013 was $270.8 million and cash and marketable securities were $373.5 million as of September 30, 2013.

“Double-digit revenue and earnings growth marked another exceptional quarter for Actavis, Inc., as we continue to accelerate our transformation into a global specialty pharmaceutical leader,” said Paul Bisaro, Chairman and CEO of Actavis plc.

 

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The following information was filed by Actavis, Inc. on Tuesday, October 29, 2013 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.