Amgen Inc. (AMGN) reported fourth quarter GAAP net income of $931 million or $0.92 per share, compared to $925 million or $0.87 per share in the fourth quarter last year. Adjusted net income decreased to $1.06 billion or $1.05 per share from $1.12 billion or $1.06 per share in the year-ago period. Adjusted earnings per share, including stock option expense decreased to $1.03, compared to $1.04 in the year-ago quarter.
On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share. Analysts' estimates typically exclude special items.
Adjusted net income for the quarter exclude stock option expense, certain expenses related to acquisitions, restructuring and legal settlements, the resolution of certain transfer pricing issues with the Internal Revenue Service and certain other items.
Total revenue increased to $3.80 billion from $3.75 billion in the previous year quarter. Twenty Wall Street analysts expected revenues of $3.85 billion.
Looking forward, for the fiscal year 2010, the company expects total revenue for 2010 to be in the range of $15.1 billion to $15.5 billion. Amgen expects 2010 adjusted earnings per share in the range of $5.05 to $5.25, excluding stock option expense, certain expenses related to prior acquisitions and the non-cash interest expense resulting from a change in accounting for its convertible debt.
Street analysts expect earnings of $5.12 per share on revenues of $15.31 billion.
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