By RTT News,
July 25, 2014, 08:01:00 AM EDT
(RTTNews.com) - Research-based biopharmaceutical company AbbVie Inc. ( ABBV ) said it has earned higher net profit of $1.10 billion, or $0.68 per share in the 2014 second quarter, versus $1.07 billion, or $0.66 per share, a year ago. Excluding specified items, earnings per share were $0.82 for the latest quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.
Worldwide sales reached $4.93 billion in the latest quarter, up 5.0 percent, compared with the prior year's $4.69 billion. Seven analysts projected $4.70 billion sales for the period. On an operational basis, sales went up by 4.8 percent, excluding a 0.2 percent favorable impact from foreign exchange rate fluctuations. Excluding sales from the company's lipid franchise due to the loss of exclusivity, sales rose 12.3 percent on an operational basis in the quarter.
Excluding the potential impact of the transaction with Shire, AbbVie is issuing earnings-per-share guidance for the third-quarter 2014 of $0.77 - $0.79 on an adjusted basis, or $0.68 - $0.70 on a GAAP basis. Third-quarter adjusted earnings-per-share view excludes $0.09 per share of intangible asset amortization expense and other specified items primarily associated with certain separation-related costs and ongoing restructuring activities.
Excluding the potential impact of the transaction with Shire, AbbVie is confirming its 2014 earnings-per-share guidance of $3.06 - $3.16 on an adjusted basis, or $2.69 - $2.79 on a GAAP basis. Ten analysts estimate annual earnings of $3.14 per share. This 2014 outlook excludes any potential revenue from the expected 2014 U.S. launch of its hepatitis C (HCV) therapy.
For comments and feedback: contact firstname.lastname@example.org