Weak Sales Contribute to Alere's (ALR) 3Q Miss; Leerink Partners Cuts Price Target to $50
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Alere Reports Third Quarter 2015 Financial Results
November 4, 2015 4:30 PM ESTWALTHAM, Mass., Nov. 4, 2015 /PRNewswire/ -- Alere Inc. (NYSE: ALR), a global leader in rapid diagnostic tests, today announced its financial results for the quarter ended September 30, 2015. Net revenue for the third quarter of 2015 was $602.0 million, a 7.3 percent decrease compared to $649.2 million in the third quarter of 2014, or a 1.7 percent decrease in organic growth, which is on a constant currency basis, excluding impacts of acquisitions and divestitures. Net income from continuing operations available to common stockholders was $0.2 million, or $0.00 per diluted share, in the third quarter of 2015. On a non-GAAP basis, the Company... More
