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Recordati Industria Chimica E Farmaceutica SpA issues financial guidance for fiscal year 2014 higher with analysts' estimates


Thursday, 16 Jan 2014 09:36am EST 

Recordati Industria Chimica E Farmaceutica SpA:Announces that revenues for 2014 are expected to be more than 1 billion euros, thanks mainly to the consolidation of Opalia Pharma and Laboratorios Casen Fleet acquired in 2013, fiscal 2014 revenues 1.019 billion euros - Thomson Reuters I/B/E/S.Says organic growth will be impacted by the termination of the license agreement for Entact (escitalopram) in Italy as a result of the product's patent expiry, and of the license agreement for Adagent (pegademase bovine) in the markets.Says operating margin for 2014 is expected to increase thanks mainly to an improvement in gross margin as a result of the high margin associated with the newly acquired products and the low margin generated by the terminated products.Says SG&A expenses for 2014 are expected to remain stable as percent of sales while R&D expenditure is expected to grow to around 9 percent of sales.Says for 2014 operating income is expected to be more than 220 million euros, with a margin on sales of 22 percent, fiscal 2014 operating income 210.76 million euros, margin on sales 20.7 percent - Thomson Reuters I/B/E/S.Says net income for 2014 is expected to to be more than 150 million euros with a margin on sales of 15 percent, fiscal 2014 net income 143.83 million euros, margin on sales 14.1 percent - Thomson Reuters I/B/E/S. 

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