PAR Pharmaceutical Annual Revenue Tops $1.0 Billion (Financial Report‪)‬

Par Pharmaceutical Companies, Inc. (NYSE: PRX), Woodcliff Lake, N.J., has reported results for the fourth quarter and full year ended December 31, 2010. For the fourth quarter ended December 31, 2010, the company reported total revenues of $227 million and income from continuing operations of $17.6 million, or $0.48 per diluted share, which includes a net $2.7 million charge related to the settlement of litigation and changes in estimates for loss contingencies. Excluding these items, adjusted income from continuing operations (non-GAAP measure) was $19.3 million. On an adjusted cash basis (non-GAAP measure), which excludes amortization expenses, income from continuing operations was $22.3 million, or $0.61 per diluted share for the fourth quarter 2010. This is compared to reported revenues of $290.3 million and income from continuing operations of $10.8 million, or $0.31 per diluted share for the same period in 2009, which included several one-time items. On an adjusted cash basis, income from continuing operations was $25.8 million, or $0.74 per diluted share for the fourth quarter 2009.