UPDATE 1-Hospira swings to profit in fourth quarter as sales rise
Feb 13 (Reuters) - Hospira Inc on Wednesday reported a profit for the fourth quarter versus a year-earlier loss as sales of generic injectable drugs, IV solutions, drug pumps and other hospital products increased more than 8 percent.
The company, which has been grappling with regulatory issues at its manufacturing plants for the past year, said it expects sales to rise 1 percent to 3 percent for 2013, and adjusted earnings per diluted share to be between $2.05 and $2.20.
In the fourth quarter, its net income was $5.3 million, or 3 cents per share, in the latest quarter, compared with a net loss of $214.0 million, or $1.30 per share, in the year-earlier period.
Adjusted earnings were 55 cents per share. On that basis, analysts on average were expecting earnings per share of 54 cents.
Net sales rose to $1.1 billion in the quarter from $1.0 billion a year before.
Hospira shares closed on Tuesday at $34.95 on the New York Stock Exchange.