U.S. News

Barr Projects Revenue of $2.5 Billion to $2.6 Billion

Barr Pharmaceuticals , which makes generic and branded drugs, on Wednesday said it projects total revenue of $2.5 billion to $2.6 billion for fiscal 2007.

The forecast was provided by Chairman and CEO Bruce Downey during a conference call earlier and reflects projected product sales of $2.3 billion to $2.4 billion.

Analysts surveyed by Thomson Financial, on average, expect total revenue of $2.57 billion for the year ending Dec. 31.

The company expects adjusted earnings of $3 to $3.30 per share for 2007. This projection excludes amortization costs for acquired products, inventory charges related to its acquisition of Croatian drug maker Pliva, contributions from operations that Barr expects to divest during 2007 and stock-based compensation costs.

Barr's adjusted earnings forecast also excludes the impact of potential patent challenge outcomes or other business development activities that may be completed by Dec. 31.

Analysts are expecting earnings of $3.23 per share for the year. Wall Street estimates typically exclude one-time items.

The company is changing its fiscal year-end to Dec. 31 from June 30, effective for the period ended Dec. 31, 2006.