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Endo Health Solutions Inc gives FY, Q4 2013 charge guidance; Lowers FY 2013 GAAP EPS guidance

Wednesday, 19 Feb 2014 07:30am EST 

Endo Health Solutions Inc:Completes annual goodwill and in-process research and development (IPR&D) impairment analysis for fiscal 2013 and plans to record in fiscal 2013, a pre-tax, non-cash asset impairment charge of about $495 million.Primarily related to goodwill attributable to the company's acquisition of American Medical Systems.Says during the fourth quarter of 2013, it also recorded a pre-tax, non-cash charge of about $316 million, to increase the company's product liability reserve to about $520 million for all known, pending and estimated future claims.Says non-cash charges will not affect the company's fiscal 2013 adjusted financial results; however, fiscal 2013 reported (GAAP) earnings per share are now expected to be materially below previously announced guidance of $0.95 to $1.10. 

Company Quote

1 Jun 2015