Mallinckrodt: 2Q Earnings Snapshot
SURREY, Britain (AP) _ Mallinckrodt PLC (MNK) on Tuesday reported second-quarter net income of $6.8 million.
On a per-share basis, the Surrey, Britain-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, were $2.53 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The specialty pharmaceutical company posted revenue of $823.3 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $823.7 million.
Mallinckrodt expects full-year earnings in the range of $8.40 to $8.70 per share.
Mallinckrodt shares have fallen 59% since the beginning of the year. The stock has declined 73% in the last 12 months.