By RTT News,
February 25, 2014, 04:26:00 PM EDT
(RTTNews.com) - Jazz Pharmaceuticals Public Limited Company ( JAZZ ) Tuesday reported fourth-quarter profit of $55.3 million or $0.90 per share, down from $200.6 million or $3.28 per share in the same period last year.
Adjusted earnings for the quarter were $106.1 million or $1.72 per share. On average, 14 analysts polled by Thomson Reuters expected the company to earn $1.78 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 28 percent to $235.8 million from $183.7 million last year. Analysts expected revenues of $238.12 million.
Looking ahead to the fiscal 2014, the company has forecast earnings in the range of $2.31 to $2.84 per share, with adjusted earnings ranging between $8.00 and $8.25 per share.
Revenues are projected in a range of $1.10 billion to $1.16 billion. Analysts, currently expect the company to report full-year earnings of $8.07 per share on revenues of $1.08 billion.
Additionally, the company has said Kathryn Falberg has resigned as the company's Executive Vice President and Chief Financial Officer, effective March 9. Matthew Young, senior vice president, has been elected to succeed Falberg.
Young most recently served as the Managing Director in Global Healthcare and Co-Head of Life Sciences at Barclays Capital. Previously, Young was head of U.S. Life Sciences at Citigroup, and, prior to that, was head of West Coast Healthcare and directed the life sciences coverage effort at Lehman Brothers.
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