(RTTNews) -  Pharmaceutical company Warner Chilcott Ltd. (WCRX: News ), Friday, posted 66% higher profit for the June quarter on an increase in revenues resulting from higher sales of Doryx, Loestrin 24 FE and Estrace cream as well as lower expenses. The company also raised its earnings guidance for the full year 2009, while affirming its revenue outlook.

Net income increased to $56.02 million or $0.22 per share from $33.57 million or $0.13 per share in the same quarter last year.

Results for the quarter included special charges of $52.22 million on amortization of intangible assets and $0.96 million on amortization and write-offs of deferred loan costs, net of tax.

Excluding charges, cash net income increased 29.6% to $109.20 million or $0.44 per share for the latest quarter.

On average, twelve analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share. Analysts' estimates typically exclude special items.

Revenue for the three months increased 7.1% to $250.82 million from $234.22 million in the comparable quarter last year. Analysts had a consensus revenue estimate of $252.09 million for the quarter.

Oral contraceptive Loestrin 24 FE generated revenues of $58.0 million, up 15.5% a year ago. Dermatology product Doryx generated $44.9 million revenues, up 41.6% from the year-ago period. Hormone therapy product Estrace cream recorded revenues of $28.2 million, or up 33.1% a year ago.
Revenues increased mainly on net sales of $28.0 million contributed by Doryx, Loestrin 24 FE and Estrace cream, partially offset by net sales decline of other products, primarily Estrostep FE, Sarafem and Femhrt.

Research and development expenses for the quarter were $11.9 million, a decrease 4.8% from last year. Net interest expense for the quarter declined 38.2% to $15.2 million from $24.6 million in the prior year quarter.

For the six months, net income increased to $99.36 million or $0.40 per share from net income of $67.23 million or $0.27 per share for the same period a year ago. Revenue for the six months increased to $496.80 million from $463.69 million for the comparable period in 2008.

Looking ahead, the company affirmed its full-year 2009 revenue guidance in the range of $1.015 billion to $1.025 billion. The company has also raised its GAAP net income guidance to $186 million - $199 million from the earlier range $174 million - $186 million.

The company anticipates cash net income per share for the year to be in the range of $1.60 to $1.65, higher than previously forecasted range of $1.55 to $1.60.

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