Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Mylan Q4 Profit Surges, EPS Tops View - Quick Facts

RELATED NEWS
Trade MYL now with 

Generic drugmaker Mylan Inc. (MYL: Quote) 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."

Click here to receive FREE breaking news email alerts for Mylan Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.