Mylan: 2Q Earnings Snapshot
HATFIELD, Britain (AP) _ Mylan Inc. (MYL) on Monday reported a second-quarter loss of $168.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hatfield, Britain-based company said it had a loss of 33 cents. Earnings, adjusted for one-time gains and costs, came to $1.03 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The generic drugmaker posted revenue of $2.85 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.82 billion.
Mylan expects full-year earnings in the range of $3.80 to $4.80 per share, with revenue in the range of $11.5 billion to $12.5 billion.
Mylan shares have fallen 33% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. The stock has decreased 49% in the last 12 months.