Catalent Reports Third Quarter Fiscal Year 2017 Results

SOMERSET, N.J.--(BUSINESS WIRE)--Catalent, Inc. (NYSE:CTLT), the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, today announced financial results for the third quarter of fiscal year 2017, which ended March 31, 2017.

Third quarter 2017 revenue of $532.6 million increased 22% as reported and increased 25% in constant currency from $438.0 million reported in the third quarter a year ago. For the first nine months of fiscal year 2017, revenue was $1,458.5 million and increased 11% as reported and 14% in constant currency, compared to the $1,315.9 million recorded in the prior-year period. All three of the Company’s reporting segments posted constant currency revenue growth for the quarter and year-to-date period when compared to the comparable periods of the prior year.

Third quarter 2017 net earnings attributable to Catalent were $26.0 million, or $0.21 per diluted share, compared to net earnings of $10.7 million, or $0.09 per diluted share, in the third quarter a year ago. For the first nine months of fiscal year 2017, net earnings attributable to Catalent were $48.0 million, or $0.38 per diluted share, compared to net earnings of $53.4 million, or $0.42 per diluted share, in the same period of the prior year.

Third quarter 2017 EBITDA from continuing operations of $93.8 million, as referenced in the GAAP to non-GAAP reconciliation provided later in this release, increased 33% from $70.3 million in the third quarter a year ago. For the first nine months of fiscal year 2017, EBITDA from continuing operations was $241.7 million, an increase of 1% compared to the $239.9 million recorded in the prior-year period.

Third quarter 2017 Adjusted EBITDA (see the non-GAAP reconciliation) was $117.8 million, or 22.1% of revenue, compared to $80.7 million, or 18.4% of revenue, in the third quarter a year ago. This represents an increase of 46% as reported and an increase of 51% on a constant currency basis.

Third quarter 2017 Adjusted Net Income (see the non-GAAP reconciliation) was $48.7 million, or $0.38 per diluted share, compared to Adjusted Net Income of $26.4 million, or $0.21 per diluted share, in the third quarter a year ago.

"We're pleased with our performance during the third quarter, where we recorded double-digit organic revenue growth on a constant currency across all three of our reporting segments, and closed our second strategic acquisition of the fiscal year," said John Chiminski, President and Chief Executive Officer of Catalent, Inc. "The integrations of both acquisitions closed during the fiscal year, Pharmatek and Accucaps, are progressing according to our expectations and are already creating value for the company and our shareholders."