Fourth quarter net income posted by the Bristol, Tennessee-based company increased to $42.82 million or $0.18 per share from $36.96 million or $0.15 per share reported in the same period last year. Excluding special items, net earnings rose to $112.97 million or $0.46 per share for the quarter, from $98.75 million or $0.41 per share in the year ago quarter. On average, fourteen analysts surveyed by First Call/Thomson Financial expected the company to earn $0.45 per share for the quarter. Total quarterly revenues increased 4% to $533.27 million from $512.91 million in the fourth quarter of 2006. Nine analysts estimated revenues of $526.92 million for the period. Net revenue from branded pharmaceuticals totaled $469 million for the quarter, a 3% increase from the fourth quarter of 2006. King's Meridian Medical Technologies business contributed revenue totaling $42 million during the quarter, compared to $32 million in the year ago period. Royalty revenues, derived primarily from ADENOSCAN totaled $22 million during the quarter.
For fiscal 2007, the company reported net income of $182.98 million or $0.75 per share, down from $288.95 million or $1.19 per share in the previous year. Excluding special items, net earnings increased to $476.34 million or $1.95 per share for the year from $422.69 million or $1.74 per share in the last year. Analysts expected earnings of $1.93 per share on revenues of $2.12 billion. Full year revenues rose 7% to $2.136 billion from $1.988 billion in the previous year.
KG is trading up 0.29 or 2.65% at $11.25 on a volume of 114K shares.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
|
|
