Valeant Pharmaceuticals International, Inc. Revises Earnings Guidance for the Fourth Quarter of 2014 and Full Year of 2015
For the year 2015, the company expects revenue between $9.2 billion to $9.3 billion compared to $9.1 billion previous guidance. Cash EPS between $10.10 to $10.40 compared to $10.00 previous guidance. Adjusted cash flow from operations of more then $3.1 billion compared to $3.1 billion previous guidance. The company to spend on R&D of $250 million. The company announced that its gross margin should be approximately 75% in 2015, and the company continues to expect to improve from this level in future years. The company announced that its interest expense for 2015 should be approximately $800 million, which assumes no debt reduction over and above mandatory repayment of approximately $255 million and cash tax rate is expected to be approximately 5% during the year. CapEx will be about $200 million to $250 million for the year, depreciation will be approximately $160 million, and stock-based compensation will be around $100 million.