Healthcare Earnings Scan (ACOR, SNN, CAH, VRX, NBIX, SKH)
Acorda Therapeutics Inc (NASDAQ:ACOR) declined 3.02% to $24.75 after the Company released first quarter results. GAAP net income was $7.8 million or $0.19 per diluted EPS versus GAAP net loss of $0.7 million or $0.02 per diluted EPS in the prior year period. AMPYRA net revenue was $57.4 million compared to $46.8 million in the previous year period.
Smith & Nephew plc (ADR) (NYSE:SNN) soared 4.37% to $51.10 subsequent to the Company released first quarter results. Profit increased to $233 million from $228 million in the last year period. Earnings per share were 17.9 cents compared to 17.4 cents in the prior year period. Revenue for the quarter increased 2% to $1.08 billion. However, analysts expected earnings of 92 cents per share on revenues of $1.09 billion for the quarter.
Cardinal Health Inc (NYSE:CAH) increased 1.23% to $42.94. The Company reported third quarter profit of $333.4 million or 95 cents per share versus $246 million or 70 cents per share in the prior year period. Revenue increased 3.3% to $26.9 billion. However, analysts projected $26.77 billion. Gross margin was at roughly 4.4%.
Valeant Pharmaceuticals Int (USA) (NYSE:VRX) decreased 3.12% to $54.69. The Company reported first quarter EPS of $0.99 versus $0.02 in the same period last year. Revenue rose 52% to $856.1 million. The Company expects to earn between $4.45 and $4.70 per share in 2012.
Neurocrine Biosciences Inc (NASDAQ:NBIX) plunged 3.93% to $7.08 after the Company reported first quarter results. Net loss was $0.9 million or $0.01 loss per share compared to net income of $2.9 million or $0.05 income per share in the first quarter of 2011. Revenues were $11.3 million compared to $12.5 million in the first quarter of 2011. The decrease in revenues was primarily due to revenues recognized under collaboration agreements with Abbott and Boehringer Ingelheim that began in June 2010.
Skilled Healthcare Group Inc (NYSE:SKH) slipped 11.85% to $7.06 after the Company announced first quarter results. Revenue declined 1.4% to $219.4 million. Adjusted EBITDA was $26.1 million compared to $36.8 million in the prior year period. Net income was $6.3 million compared to net income of $11.8 million in the previous year period. Net income per diluted share was $0.17 compared to net income per diluted share of $0.32 in the same period of 2011.