TARO - Taro Pharmaceutical misses top an bottom line consensus for Q1

2023-05-24 03:47:46 ET

• Taro Pharmaceutical press release ( NYSE: TARO ): Q1 GAAP EPS of $0.18 misses by $0.05 .
• Revenue of $146.6M misses by $4.09M .
• Gross profit of $75.7 million (51.6% of net sales) compared to $77.3 million (54.0% of net sales).
• Research and development (R&D) expenses of $16.3 million increased $1.4 million.
• Selling, marketing, general and administrative expenses (SG&A) of $50.1 million increased $9.0 million.
• Operating income of $9.3 million compared to operating income of $21.3 million.
• Interest and other financial income of $8.0 million increased $7.4 million.
• Foreign Exchange expense of $0.5 million compared to FX income of $2.5 million ? an unfavorable impact of $3.0 million.
• Tax expense of $11.0 million compared to a tax benefit of $2.4 million ? an unfavorable impact of $13.4 million.
• Net income attributable to Taro was $6.9 million compared to net income of $27.4 million, resulting in earnings per share of $0.18 compared to earnings per share of $0.73.

For further details see: