May 4, 2021
Bausch Health reports US$610M Q1 loss, revenue edges higher
The Canadian Press
Bausch Health adds two new directors to board backed by Carl Icahn
The company, which keeps its books in U.S. dollars, says the loss amounted to US$1.71 per diluted share for the quarter compared with a loss of 43 cents per diluted share in the first three months of 2020.
The results included a US$469-million goodwill impairment charge in its Ortho Dermatologics business and a US$71-million impairment charge related to a product line in Ortho Dermatologics.
On an adjusted basis, Bausch Health says it earned US$370 million for the quarter, up from an adjusted profit of US$316 million for same quarter last year.
Revenue for the quarter totalled nearly US$2.03 billion for the first quarter of 2021 compared with US$2.01 billion in the first quarter of 2020.
Bausch Health says excluding the US$33-million favourable impact of foreign exchange and the $10-million impact of divestitures and discontinuations, revenue fell US$8 million compared with a year ago.