Q1 OutlookConsensus is adjusted net earnings of $1.33.
Pharma sales have a strong seasonal signal.
As an example, see Horizon's estimates for 2016.
Q1 is the weakest quarter, contributing about 20 % to total annual sales.
Q2 is stronger, Q3 a bit stronger still, with Q4 being the strongest quarter.
We can see this in CXR's quarterly forecast.
Adjusted EPS of $1.33 US in Q1 rising toi $1.52 US in Q2.
Q3 and Q4 are not given individually but combined they are forecast to contribute $3.68 to annual earnings or 57 % of total annual net earnings.
This is almost identical to Horizon';s seasonal pattern.
Q4/15 generated adjusted net earnings of $1.24 US on net sales of $191 million.
Amdipharm contributed 10 weeks to Q4.
Adjusting for the full quarter, sales would have been about $225 million and net earnings would have been about $1.45 US.
Taking into account a seasonally weaker Q1, sales might be expected to be about $210 million which would be consistent with consensus adjusted net earnings of about $1.33.
Two new drugs were released in late 2015 and some others later this year.
This means that CXR will have record quarters for each of 2016.