RTTNews | Aug 30, 2021 07:28AM EDT

07:27 Monday, August 30, 2021 (RTTNews.com) - Catalent, Inc. (CTLT) reported an increase in profit for the fourth quarter that also topped Wall Street estimates. Overall organic net revenue growth was 26%, for the quarter. The company also announced an agreement to acquire Bettera Holdings.

Fourth quarter adjusted net income was $209 million, or $1.16 per share, compared to $154 million, or $0.90 per share, a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.03, for the quarter. Analysts' estimates typically exclude special items. Net earnings attributable to shareholders was $167 million, or $0.97 per share, compared to $135 million, or $0.85 per share, prior year.

Net revenue was $1.19 billion, up 25% as reported, or 22% in constant currency, from $947 million, last year. Analysts expected revenue of $1.14 billion, for the quarter.

For fiscal 2022, Catalent projects adjusted net income of $585 million - $650 million; and net revenue of $4.30 billion - $4.50 billion. Also, Catalent has agreed to acquire Bettera Holdings, LLC for $1 billion. Headquartered in Plano, Texas, Bettera is a manufacturer in the gummy, soft chew, and lozenge segments of the nutritional supplements market. Bettera is currently a portfolio company of Highlander Partners, LP.

Read the original article on RTTNews ( https://www.rttnews.com/3221788/catalent-q4-profit-tops-estimates-announces-acquisition-of-bettera-holdings.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved