12:05 PM EST - Biovail Corp. : reported a first-quarter GAAP net loss of $3.2 million U.S. compared with an income of $39.0 million U.S. for the corresponding 2009 period. GAAP loss per share for the quarter was $0.02 U.S. versus earnings of $0.25 U.S. last year. During the 2010 first quarter, cash earnings per share grew to $0.55 U.S. from $0.42 U.S. a year ago. Excluding a $6-million U.S. legal settlement, cash earnings per share were $0.59 U.S. in the first quarter of 2010, compared with $0.46 U.S. as similarly adjusted in the prior-year period, a 27% increase. Total revenues for the three months ended March 31, 2010 were $219.6 million U.S. compared with $173.3 million U.S. for the first quarter of 2009, a 27% increase. Biovail Corp.
shares T.BVF are trading down $0.20 at $16.72.
