Merck's earnings surge beats forecast
Drugmaker posts higher operating income and matches expectations for sales. It also reaffirms 2008 earnings guidance.
NEW YORK (CNNMoney.com) -- Merck & Co. announced a surge in fourth-quarter operating earnings Wednesday that beat analysts' forecasts, while sales matched expectations..
The New Jersey-based drugmaker said earnings before extraordinary charges jumped to 80 cents per share, without charges, in the fourth quarter of 2007, while sales edged up 3% to $6.2 billion.
Analysts had forecast a 47% a surge in earnings per share to 74 cents without charges, and 4% increase in fourth-quarter sales to $6.2 billion, according to a consensus from Thomson Financial.
Merck (MRK, Fortune 500) also reaffirmed its full-year 2008 guidance to a range of $3.28 to $3.38 per share, without charges.
With charges, the company lost 75 cents per share in the fourth quarter. The charges were related to a $4.85 billion settlement over the withdrawn arthritis painkiller Vioxx.
CNN
No comments:
Post a Comment