LAVAL, Que. — Bausch Health Companies Inc. reported a first-quarter loss of US$610 million compared with a loss of US$152 million a year earlier.
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.
This report by The Canadian Press was first published May 4, 2021.
Companies in this story: (TSX:BHC)
The Canadian Press