UPDATE: Actavis Tops Q4 Views

reported upbeat earnings for the fourth quarter. The Parsippany, New Jersey-based company posted a quarterly net loss of $732.9 million, or $2.76 per share, versus a year-ago loss of $148.4 million, or $0.86 per share. On an adjusted basis, Actavis' earnings climbed 23% to $3.91 per share. Its net revenue climbed 46% to $4.06 billion. However, analysts were expecting earnings of $3.67 per share on revenue of $3.84 billion. Revenue at the company's North American brands jumped 188% to $1.8 billion North American Generics & International net revenue rose 1% to $1.78 billion for the quarter. Sales at its Anda distribution segment climbed 16% to $443.3 million. Adjusted EBITDA rose 80% to $1.5 billion. As of December 31, 2014, the company had cash and marketable securities of $251 million. "Our fourth quarter results demonstrate our laser-like commitment to drive strong growth and sustainable value creation across our businesses, while simultaneously executing transformative business development initiatives," said Brent Saunders, CEO and President of Actavis. Actavis expects full-year earnings in the range of $16.30 to $17.30 per share on revenue of around $15 billion. Actavis shares rose 0.54% to close at $286.90 yesterday.