Mylan 4th-qtr 2013 adjusted diluted EPS increases 20%, beating expectations

US generics major Mylan (NYSEL: MYL) reported financial results for the fourth-quarter and full year 2013, showing a 20% increase in profit to $162 million, or $0.39 a share and revenues of $1.81 billion, up 5% for the quarter.

Excluding litigation-related expenses, amortization and other items, adjusted earnings rose to $0.65 a share from $0.53 a share. Revenue increased 13% to $1.72 billion. Analysts polled by Thomson Reuters most recently projected earnings of $0.64 on revenue of $1.73 billion.

Adjusted diluted earnings per share of $2.89 for the year ended December 31, 2013 represented an increase of 12%. Total revenues of $6.91 billion for the year compared to $6.80 billion for the same prior year period, an increase of 2%, despite 2013 new product revenues being 69% lower than 2012