reported fourth-quarter earnings today that beat Wall Street's lowered expectations by 5 cents.
For the fourth quarter ended Dec. 31, Ivax reported income from continuing operations $49.7 million, or 30 cents a diluted share, up from $29.8 million, or 19 cents a share, in the year-ago period. Five analysts surveyed by
First Call/Thomson Financial
estimated the company, which is based in Miami, would report 25 cents a share.
Ivax, a holding company whose units make branded and generic pharmaceuticals, veterinary and diagnostic products, also posted fourth-quarter revenue of $242 million, up 27% from $191 million in the same quarter one year ago.
Shares of Ivax gained $1.93, or 5.9%, to $34.81 in recent
American Stock Exchange