First-Quarter Financial Results
Revenues of $2.109 Billion
GAAP Net Income of $628 Million
GAAP Cash Flow from Operations of $954 Million
Adjusted EBITDA (non-GAAP) of $861 Million
Adjusted Net Income (non-GAAP) of $273 Million
Reduced Debt by $1.3 Billion in the quarter
Raising 2017 Full-Year Adjusted EBITDA Guidance Range
LAVAL, Quebec, May 9, 2017 Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) (Valeant or the Company or we) today announced first-quarter 2017 financial results.
Our first quarter performance demonstrates that we are delivering on our commitments. We met our internal expectations, and we are continuing to make progress on our key initiatives, focus on the turnaround of our core businesses and improve internal operating efficiencies, said Joseph C. Papa, chairman and chief executive officer, Valeant. Our divestiture efforts and cash flow generation have led to a $3.6 billion reduction in total debt to date, since the end of the first quarter of 2016, and our successful debt refinancing provides us with a more comfortable maturity profile.
https://www.sec.gov/Archives/edgar/data/885590/...36/ex991-q12017.htm