Tuesday, Hospira Inc. (HSP) reported third-quarter net income of $116.2 million or $0.71 per share, compared to net income of $81.8 million or $0.51 per share in the same quarter last year.
On an adjusted basis, net income was $147.4 million or $0.90 per share, compared to $101.5 million or $0.63 per share in the year ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.69 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter was $1.0 billion, up 8.9% from $925.5 million in the comparable quarter last year. Analysts expected the company to report revenue of $936.22 million for the quarter.
Looking ahead to the full year 2009, the company expects to report adjusted earnings in the range of $2.85 - $2.90 per share, compared to prior guidance of $2.70 - $2.75 per share. Earnings are expected to be in the range of $2.25 - $2.30 per share, compared to the previous guidance range of $2.10 - $2.15 per share. Analysts currently anticipate the company to earn $2.84 per share.
The company said, for the full year 2009, it expect net sales to increase approximately 5% - 7% on a constant-currency basis. Including the impact of foreign exchange, the company expects net sales to be slightly up. Previously the company said it expects net sales to increase about 4% - 6% on a constant-currency basis. Analysts currently anticipate the company to report revenue of $3.73 billion.
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