Perrigo shareholders are in store for an even better 2011 year according to (NASDAQ:PRGO) guidance.
Nov 2 (Reuters) - Generic drugmaker Perrigo Co (PRGO.O) (PRGO.TA) posted a better-than-expected quarterly profit, helped by higher sales at its consumer healthcare and nutritionals segments, and raised its full-year adjusted earnings guidance.
For the first quarter ended Sept. 25, the company reported a net income of $74 million, or 79 cents a share, from continuing operations, compared with $51 million, or 55 cents a share from continuing operations, a year ago.
Excluding items, the Allegan, Michigan-based company earned 87 cents a share from continuing operations.
|Perrigo||PRGO||FY11||$3.43 ex. est.||$3.60-3.75 new guidance|
Revenue at Perrigo, with a market value of about $6.07 billion, rose 21 percent to $641 million.
Analysts on average had expected earnings of 77 cents a share, excluding special items, on revenue of $647 million, according to Thomson Reuters