Biovail Corp. said Thursday its fourth-quarter profit fell due to a series of one-time items that hurt results.
Biovail said it earned $73-million, or 46 cents a share, in the quarter, down from a year-earlier profit of $120.4-million, or 76 cents a share, when results were helped by a $66.2-million, or 42 cent per share, deferred income-tax benefit.
Excluding one-time items, the company said its quarterly earnings were 56 cents a share.
Fourth-quarter revenue rose 33 per cent to $241.1-million.