logo
Plus   Neg
Share
Email

Mylan Q4 Profit Surges, EPS Tops View - Quick Facts

Generic drugmaker Mylan Inc. (MYL) on Tuesday reported a surge in profit for the fourth quarter, helped by a 7 percent growth in revenues and lower litigation expenses. Adjusted earnings topped Wall Street estimates.

Net earnings attributable to the company surged to $129.5 million or $0.30 per share from $2.6 million or $0.01 per share in the previous year. Results of both periods included one-off items with the prior-year results including hefty litigation settlements.

Adjusted earnings increased to $0.53 per share from $0.45 per share. On average, 20 analysts polled by Thomson Reuters expected earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues climbed to $1.53 billion from $1.43 billion. Wall Street expected $1.56 billion in revenues.

Heather Bresch, Mylan's Chief Executive Officer, said, "...On the heels of the momentum that we've built in 2011, we enter what we believe will be one of the best years in Mylan's history, confident, focused and as committed as ever to delivering on our business strategy and financial targets."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shortly after announcing a racial bias training for the staff, Starbucks revealed its changed policy of allowing anyone to use its spaces, rest rooms, cafes and patios even without buying anything from the stores. The new policy will be consistent all across U.S. stores. Tesla Inc.'s CEO Elon Musk has revealed new specifications and options for its Model 3 electric car, including a high-end version of the sedan that will cost around $78,000. In a series of posts on Twitter Saturday night, Musk said that the Model 3 will be available in two versions, with dual motors and all-wheel drive in July. Musk also made an announcement regarding a new service program. Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles.
Follow RTT