OSI Pharmaceuticals Inc. (OSIP) said it now believes that the 2010 overall revenue percentage growth rate will be in the mid-teens and re-affirmed that adjusted earnings per share will grow at 10% or more. Analysts polled by Thomson Reuters expect the company to report earnings of $1.62 per share on revenues of $476.31 million for fiscal 2010. Analysts' estimates typically exclude special items.
The company also provided investors with an update on the re-purchase of a portion of its outstanding convertible debt bonds. As of December 22, 2009, the Company had purchased $39.5 million face value of the 2023 convertible bonds for $37.6 million and $40.0 million face value of the 2038 convertible bonds for $37.4 million. The aggregate amount of the Company's outstanding 2038 Notes, 2023 Notes and 2025 Notes at face value is now equal to $335.5 million. The company said that it may continue to selectively re-purchase convertible debt bonds and common stock throughout 2010.
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