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BRIEF-Valeant says correcting misstatements expected to reduce reported 2014 GAAP EPS by about $0.10

Published 2016-02-22, 10:42 p/m
© Reuters. BRIEF-Valeant says correcting misstatements expected to reduce reported 2014 GAAP EPS by about $0.10
BHC
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Feb 22 (Reuters) - Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO :
* Ad hoc committee has made substantial progress in its review of philidor and
related accounting matters
* Determines about $58 million in net revenues previously recognized in 2014
should have been booked in subsequent periods
* Assessing impact on 2014 and 2015 financial reporting and internal controls
and will delay filing 2015 10-k
* Correcting misstatements expected to reduce reported 2014 GAAP EPS by about
$0.10 and increase 2015 GAAP EPS by about $0.09
* Valeant to hold fourth quarter unaudited financial results conference call on
February 29, 2016
* Says preliminarily identified some sales to philidor in 2014 should have been
recognized when it was dispensed to patients
* Says ad hoc committee is continuing its review of circumstances relating to
misstatements and appropriate actions to be taken
* Source text for Eikon
* Further company coverage VRX.TO

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