Perrigo Reports Record Sales
ALLEGAN -- Perrigo Company announced today record increases in sales for the second quarter of the company's fiscal year, while it saw a drop in net income.
Sales for the quarter were over $561.4 million, compared to $435.4 million in the same period of 2008. Net income was nearly $25 million, compared to $34.3 million in the second fiscal quarter of 2008.
"Store brand offerings continue to perform well as our retailers promote these products to help their customers through these trying times," said Perrigo's Chairman and CEO Joseph C. Papa in the company's statement.
In the most recent period, Perrigo bought a Mexican producer of generic and store brand drugs and a Florida producer of health care products.
As a result of the report, the company increased its earnings guidance for 2009 to the $1.75 to $1.90 per share range.