- i. Net Product Sales
- j. COGS
- k. Gross Margin
- l. Net Income
There are a couple of very interesting aspects of this disclosure.
- It allows you to look back to see how previously disclosed margins, COGS and revenues compare, pre- vs. post- restatement (fun times)
- More interestingly, it gives you a direct line of sight on what Q1 2016 will look like.
Valeant just reaffirmed guidance today at $1.30-$1.55 EPS with revenue estimates of $2.3-$2.4B.
We know from Rosiello's sworn testimony provided in his response to the interrogatories that Valeant had $1260.95M in net product sales through February. To meet today's guidance, Valeant will have to net $1039.05M in sales in March (a 50.7% increase m/m versus February and a 81.9% increase m/m versus January), translating to approximately ~$260M in Net Income.
If Valeant doesn't manage to squeeze two month of revenues into March (which was perhaps the most tumultuous month in their entire history), they'll miss their own numbers they reaffirmed today.
Supposedly, we'll find out by June 10th.