Mylan reports $1.7B in total revenue for Q1

Pittsburgh — Mylan last week announced financial results for the three months ended March 31, 2014. The company reported adjusted diluted earnings per share of $0.66, compared to $0.62 for the same period last year, representing a 6% increase. Total revenues came in at $1.7 billion, compared to $1.6 billion for the same prior year period, an increase of 5%.

"Mylan's performance during the first quarter slightly exceeded our expectations and marked a great start to what we believe will be another good year. Our operations in India drove strong top-line growth as a result of increased sales from our antiretroviral franchise," said Mylan CEO Heather Bresch. "Additionally, the diversity and strength of our product portfolio in North America demonstrated our ability to continue to leverage our operating platform. We remain confident in our outlook for the rest of 2014, and we are reaffirming our full-year guidance, including the adjusted diluted EPS guidance range of $3.25 to $3.60."

John Sheehan, Mylan's CEO, commented further on the company's performance during first quarter 2014. "We were able to triple our adjusted operating cash flow to more than $280 million from the same period of the prior year," Sheehan said. "Our ability to generate strong operating cash flow continues to add to our financial flexibility and provides us the ability to execute on opportunities that create value for our shareholders."

 

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