Mylan Inc. (MYL) Thursday reported first-quarter profit of $106.9 million or $0.27 per share, down from $129.1 million or $0.30 per share in the same period last year.
Adjusted earnings for the quarter was $0.62 per share. On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved 3 percent to $1.63 billion from $1.58 billion last year. Analysts expected revenues of $1.69 billion.
Operating expenses increased to $479.64 million from $419.69 million last year.
Looking ahead, the company has reaffirmed its fiscal 2013 earnings outlook range of $2.75 to $2.95 per share. Analysts currently expect full-year earnings of $2.87 per share.
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