UPDATE 2-Catamaran profit rises; lacklustre forecast drags shares

Thu Feb 28, 2013 1:34pm EST
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* Expects full-year adjusted profit of $1.81-$1.88/share

* Sees 2013 revenue of $14.2 bln-$14.6 bln

* Fourth-qtr profit $42.5 mln vs $26.7 mln last year

* PBM revenue more than doubles to $3.3 bln

* Shares fall 7 pct in Toronto

Feb 28 (Reuters) - Pharmacy benefit manager Catamaran Corp reported a 59 percent jump in fourth-quarter profit, but the company's forecast for the year and the lack of clarity on its deal pipeline dampened investor sentiment.

Shares of Catamaran, formerly named SXC Health Solutions, fell as much as 7 percent to C$52.81 on Thursday on the Toronto Stock Exchange. The stock has gained 20 percent since the beginning of the year, outperforming the benchmark S&P/TSX composite index.

"If you look at how the stock was trading prior to the release of the results, I think the market might have been expecting a little bit more in terms of the guidance," analyst Gabriel Leung of Paradigm Capital said.

Leung said Catamaran's forecast factored in deals they have already signed, so the company could increase its outlook over the course of the year if it signs additional deals.   Continued...