Concordia International Corp. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Report Impairment Loss for the Second Quarter of 2016; Revises Earnings Guidance for the Year 2016
For the six months, the company reported revenue of $460,247,000 compared with $109,311,000 a year ago. Operating loss was $434,124,000 compared with operating income of $34,079,000 a year ago. Net loss from continuing operations was $575,185,000 or $11.28 per basic and diluted share compared with profit of $534,000 or $0.02 per basic and diluted share a year ago. Adjusted EBITDA was $283,192,000 compared with $73,616,000 a year ago. LBITDA was $345,333,000 compared with EBITDA of $49,227,000 a year ago. Adjusted earnings per share continuing operations diluted was $2.73 compared to $1.69 for the same period a year ago.
The company revises earnings guidance for full year 2016. For year 2016, the company expects revenues of $859 million to $888 million, adjusted EBITDA of $510 million to $540 million, approximately 66% of revenues to be generated outside the U.S compared to revenues of $1,020 million to $1,060 million, adjusted EBITDA of $610 million to $640 million in its previous guidance.
For the quarter the company reported impairment loss of $567,076,000.