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Endo Pharamaceuticals Tops Estimates

Endo Pharmaceuticals says its revenue and pre-charge earnings grew in the first quarter on strong generic sales and its acquisition of Indevus.
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Endo Pharmaceuticals


reported a 16% increase in sales for the first quarter, with a net income that bested analysts' estimates.

Excluding costs related to its acquisition of Indevus earlier this year, Endo reported earnings of $79 million, or 67 cents a share, compared with the year-ago period's $68.2 million, or 51 cents a share.

Analysts were looking for Endo to post net income of 63 cents a share.

Including those buyout costs and other one-time items, Endo earned $39 million, or 33 cents a share, on revenue of $335 million, up from $290.3 million a year ago. A near doubling in the sales of the company's generic products to $42.4 million from $21.8 million helped buoy results in the quarter.

In a press release, Endo's president and CEO, Dave Holvek, said that the company's shifting focus to urology and oncology products -- a line of business boosted by the addition of Indevus -- "will enable us to meet aggressive long-term growth targets."

The company reaffirmed its full-year EPS forecast, projecting a bottom line in the range of $2.59-$2.67 a share, close to analysts' expectations of $2.63.

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