the republic logo

Mylan 2nd-quarter profit falls 30 percent, misses forecast

bug
Share/Save/Bookmark

CANONSBURG, Pennsylvania — Mylan Inc. (MYL) on Thursday reported profit that declined by 30 percent in its second quarter, and missed analysts' expectations.

The Canonsburg, Pennsylvania-based company said net income fell to $125.2 million, or 32 cents per share, from $177.7 million, or 46 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, came to 69 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The generic drugmaker said revenue rose 8 percent to $1.84 billion from $1.7 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $1.9 billion, according to Zacks.

Mylan shares have risen $4.52, or 10 percent, to $47.92 since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 4 percent.

_____

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full MYL report: http://www.zacks.com/ap/MYL

_____

Keywords:Mylan,Earnings Report

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.