(RTTNews) -  Thursday, Bristol-Myers Squibb Co. (BMY: News ) reported third-quarter net income attributable to Bristol-Myers Squibb Co. of $966 million or $0.48 per share, compared to net income of $2.5 billion or $1.28 per share in the year ago quarter.

Earnings from continuing operations were $966 million or $0.48 per share, compared to $588 million or $0.29 per share in the same quarter last year.

On a non-GAAP basis, net income from continuing operations was $1.04 billion or $0.52 per share, compared to net income of $910 million or $0.45 per share in the prior year quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 4% to $5.49 billion from $5.25 billion in the comparable quarter last year. Analysts expected the company to report revenue of $5.52 billion for the quarter.

Looking ahead to the full year 2009, the company raised its earnings from continuing operations guidance to the range of $1.72 - $1.77 per share, from the previous range of $1.58 - $1.68 per share. On a non-GAAP basis, the company revised its earnings from continuing operations guidance range to $2.00 - $2.05 per share, from the previous range of $1.95 - $2.05 per share. Analysts currently expects the company to earn $2.02 per share for the full year.

The company also reaffirmed that it expects non-GAAP earnings per share from continuing operations attributable to the company to grow at a minimum 15% compounded annual growth rate, from the 2007 base through 2010.

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by RTT Staff Writer

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