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BRIEF-Impax reports Q4 adjusted earnings per share $0.16
March 1, 2017 / 11:59 AM / 8 months ago

BRIEF-Impax reports Q4 adjusted earnings per share $0.16

March 1 (Reuters) - Impax Laboratories Inc

* Impax reports fourth quarter and full year 2016 financial results

* Q4 adjusted earnings per share $0.16

* Q4 GAAP loss per share $3.91

* Q4 revenue $198.4 million versus i/b/e/s view $219.2 million

* Q4 earnings per share view $0.16 -- Thomson Reuters I/B/E/S

* Impax Laboratories Inc - not providing 2017 guidance estimates for total company revenues or earnings per share

* Impax Laboratories Inc - expect to produce annual savings of between $40 million and $50 million by 2018

* Impax Laboratories Inc - “as we enter 2017, expect headwinds to persist and weigh on our results through year”

* Impax - not providing some 2017 guidance due to “ongoing revenue volatility” within co’s generics division

* Impax Laboratories Inc sees 2017 capital expenditures of approximately $25 million to $30 million

* Impax Laboratories Inc “have undertaken a thorough review of our product portfolio and cost structure”

* Impax Laboratories Inc - “expect to produce annual savings of between $40 million and $50 million by 2018”

* Impax Laboratories Inc - “pricing erosion” is expected to be in high single to low double-digit range in 2017

* Impax Laboratories - during 2016, a number of generic products faced aggressive competition and pricing pressure, which impacted revenue and profitability

* Impax Laboratories Inc - expects generics division revenues to decline in 2017 compared to 2016 Source text for Eikon: Further company coverage:

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