** 1 week later **
LAVAL, Quebec (AP) _ Valeant Pharmaceuticals International Inc. (VRX) on Tuesday reported a loss of $515 million in its fourth quarter.
On a per-share basis, the Laval, Quebec-based company said it had a loss of $1.47. Earnings, adjusted for one-time gains and costs, came to $1.26 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The drugmaker posted revenue of $2.4 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.35 billion.
For the year, the company reported that its loss widened to $2.41 billion, or $6.94 per share. Revenue was reported as $9.67 billion.
Valeant expects full-year revenue in the range of $8.9 billion to $9.1 billion.
Valeant shares have risen 15 percent since the beginning of the year. The stock has decreased 80 percent in the last 12 months.
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