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 Mallinckrodt achieves better adjusted net income of USD242.7m Q1 fiscal 2016
   Wednesday, February 03, 2016 4:38:29 AM ET

Biopharmaceutical company Mallinckrodt (MNK ) disclosed on Tuesday its adjusted net income of USD242.7m for the first quarter of fiscal 2016.

This marks a growth of 16.3% when compared with adjusted net income of USD208.7m in the first quarter of fiscal 2015.

Adjusted diluted earnings per share of USD2.09 were recorded for the first quarter of fiscal 2016, a rise of 16.8% from USD1.79 in the first quarter of fiscal 2015.

Total net sales of USD914.8m were reported in the first quarter of fiscal 2016, an improvement of 20.3% from USD768.2m the first quarter of fiscal 2015.

For the first quarter of fiscal 2016, GAAP net income from continuing operations was USD115.9m (USD1.00 per diluted share), up over USD87.4m (USD0.74 per diluted share) the first quarter of fiscal 2015. The increase reflects increased net sales and profits from acquired assets in the Specialty Brands segment and net sales and profit contributions from Acthar.

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