logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walt Disney Co. (DIS) is reportedly in talks to buy a stake in Major League Baseball Advanced Media. According to LA Times, citing people with knowledge of the matter, Disney is seeking to acquire one-third interest in the MLB.com, which develops and manages the league's digital products. The deal... Postal Savings Bank of China, one of the biggest banks in China, seeks to raise about $8 billion in an initial public offering, which could be the biggest IPO of the year. Postal Savings Bank of China plans to list its stock in the Hong Kong stock exchange. According to reports, the Postal Savings... Sporting goods retailer Dick's Sporting Goods, Inc. has emerged as the successful bidder in the bankruptcy auction for its former rival Sports Authority Holding Inc.'s intellectual property assets and the right to acquire 31 store leases.
comments powered by Disqus
Follow RTT