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Valeant reports $7.6 million in net income for third quarter

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Valeant Pharmaceuticals’ net income was $7.6 million in the third quarter, down from $40.9 million in the same period last year, according to a press release.

For the 9 months ended Sept. 30, Valeant reported a net loss of $26.9 million, compared with a net income of $103.7 million in the same period last year.

Cash earnings per share for the quarter was $1.15. The company narrowed the cash earnings per share guidance for the fourth quarter from the previous range of $1.25 to $1.45 to $1.30 to $1.35, according to the release.

Revenue for the quarter was $884 million, up from $601 million in the same quarter last year. Nine-month revenue rose from $1.77 billion last year to $2.56 billion this year.