Bristol-Myers Tops Earnings Estimate

Bristol-Myers Squibb (BMY Quote) said it earned 63 cents a share from continuing operations in the first quarter, a penny better than analysts surveyed by Thomson Financial/First Call expected.

In the year-earlier period, the company earned 56 cents a share. Net sales increased 5% to $4.69 billion from $4.45 billion a year earlier.

"As reflected by the first-quarter results, Bristol-Myers Squibb is off to a solid start in fulfilling our commitment to meet or exceed earnings per share growth expectations for 2001," CEO Charles Heimbold, Jr. said in a statement. "We remain comfortable with current consensus estimates of $2.41 for diluted earnings per share for the year."