Allergan’s 3rd-quarter profit rises 8 percent on boost in eye care, Botox salesBy AP
Thursday, October 29, 2009
Allergan 3Q profit rises on eye care, Botox sales
IRVINE, Calif. — Allergan Inc. said Thursday its third-quarter profit rose 8 percent on a boost in eye care and Botox wrinkle treatment sales.
Allergan earned $179 million, or 58 cents per share, up from profit of $165.4 million, or 54 cents per share, during the same period a year prior. Revenue rose 4 percent to $1.14 billion from $1.1 billion.
Excluding charges, the company said it earned 70 cents per share.
Analysts polled by Thomson Reuters expected profit of 69 cents per share on revenue of $1.08 billion.
Eye care product sales rose 4.8 percent to $535.1 million while sales of Botox wrinkle treatments rose 3 percent to $327.8 million. Breast implant sales fell 4.3 percent to $69 million.
Looking ahead, the company expects adjusted profit in the fourth quarter between 75 cents and 77 cents per share on product sales between $1.11 billion and $1.16 billion. Analysts expect profit of 75 cents and revenue of about $1.1 billion.
For the full year, Allergan boosted its outlook for adjusted profit to a range between $2.75 and $2.77 per share, up from the prior range of $2.71 to $2.75 per share. It expects product sales between $4.35 billion and $4.4 billion, which excludes about $60 million in other revenue. Analysts expect full-year profit of $2.75 per share on revenue of $4.32 billion.
Shares of Allergan rose $1.14, or 2.1 percent, to $54.69 in morning trading.
Tags: California, eye, Eye Care, eye health, Irvine, North America, United States