GO
Loading...

Forest Labs posts profit, raises full-year forecast

Tuesday, 21 Jan 2014 | 7:17 AM ET

Jan 21 (Reuters) - Forest Laboratories Inc posted a profit in the first full quarter under new Chief Executive Brent Saunders, helped by higher sales of its Alzheimer's disease and hypertension drugs.

Forest said it expects adjusted earnings for its fiscal year ending March 31 in the range of $1.25 to $1.35 per share. The company in October forecast earnings of 95 cents to $1.15 per share.

The company reported a net income of about $18 million, or 7 cents per share, in the third quarter ended Dec. 31, from a loss of $153.6 million, or 58 cents per share, a year earlier.

Total revenue rose about 23 percent to $878.4 million.

  Price   Change %Change
FRX
---