logo
Share SHARE
FONT-SIZE Plus   Neg

Mylan Q4 Profit Surges, EPS Tops View - Quick Facts

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade MYL now with 
Follow RTT