Mylan N.V. (MYL) has reported 377.70 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $66.40 million, or $0.12 a share in the quarter, compared with $13.90 million, or $0.03 a share for the same period last year.
Revenue during the quarter grew 24.10 percent to $2,719.50 million from $2,191.30 million in the previous year period. Gross margin for the quarter contracted 149 basis points over the previous year period to 39.90 percent. Total expenses were 91.65 percent of quarterly revenues, down from 95.18 percent for the same period last year. This has led to an improvement of 354 basis points in operating margin to 8.35 percent.
Operating income for the quarter was $227.20 million, compared with $105.60 million in the previous year period.
However, the adjusted operating income for the quarter stood at $711.20 million compared to $490.10 million in the prior year period. At the same time, adjusted operating margin improved 379 basis points in the quarter to 26.15 percent from 22.37 percent in the last year period.
Mylan chief executive officer Heather Bresch commented, "Mylan's results during the first quarter marked a great start to what we believe will be another year of strong financial performance, and continue to reflect the strength and diversity of our global business and demonstrate our resilience and ability to absorb both our industry's natural volatility, as well as additional headwinds, related to particular products and/or markets. We delivered year-over-year revenue growth of 24%, adjusted EPS growth of 22%, and expanded segment profitability in all three segments. These results are a true reflection of all of the great assets we have integrated, with significant contributions from acquisitions completed last year, as well as from new product launches across our business. We remain confident in our guidance and our business outlook for the full year 2017, including our adjusted EPS guidance range."
Debt increases substantiallyMylan N.V. has witnessed an increase in total debt over the last one year. It stood at $14,995.20 million as on Mar. 31, 2017, up 100.62 percent or $7,520.60 million from $7,474.60 million on Mar. 31, 2016. Total debt was 43.75 percent of total assets as on Mar. 31, 2017, compared with 33.01 percent on Mar. 31, 2016. Debt to equity ratio was at 1.29 as on Mar. 31, 2017, up from 0.73 as on Mar. 31, 2016. Interest coverage ratio improved to 1.64 for the quarter from 1.50 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]