Mallinckrodt: 4Q Earnings Snapshot
SURREY, Britain (AP) _ Mallinckrodt PLC (MNK) on Tuesday reported a loss of $1.16 billion in its fourth quarter.
On a per-share basis, the Surrey, Britain-based company said it had a loss of $13.76. Earnings, adjusted for one-time gains and costs, were $2.40 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The specialty pharmaceutical company posted revenue of $804.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $774.1 million.
For the year, the company reported that its loss narrowed to $996.5 million, or $11.88 per share. Revenue was reported as $3.16 billion.
The company’s shares closed at $4.17. A year ago, they were trading at $21.49.