By Ben Glickman
Catalent on Friday revised its fiscal fourth-quarter 2023 and first-quarter 2024 results and recognized a nearly $700 million impairment charge.
The company said the revisions in the fiscal fourth quarter were related to changes identified during its closing procedures, while the changes to fiscal first quarter results were mostly related to a $689 million non-cash goodwill impairments
The Somerset, N.J.-based drug manufacturer said in a regulatory filing Friday that it had a net loss of 59 cents a share in the quarter ended June 30, compared to a previously reported loss of 48 cents a share.
The company’s adjusted profit in the fiscal fourth quarter was 2 cents a share. Catalent previously reported an adjusted profit of 9 cents a share.
The company revised its fiscal first-quarter loss to $4.19 a share from a previously reported $3.94 a share loss.
The impairment charge in the first quarter related to acquisitions in its Pharma and Consumer Health and Biologics segments.
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