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Allergan Swings to Profit

The maker of Botox beats second-quarter earnings consensus.


(AGN) - Get Allergan plc Report

returned to profit in the second quarter, as the maker of Botox posted a 13% increase in revenue.

The Irvine, Calif.-based company had a profit of $91.8 million, or 69 cents a share, vs. a loss of $107.9 million, or 83 cents a share, a year ago. On an adjusted basis, EPS came in at 64 cents, up from 53 cents a share in the year-ago period. Analysts were expecting 62 cents a share, according to Thomson First Call.

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Revenue rose to $506.2 million vs. $441.5 million a year ago. Sales of the antiwrinkle cream Botox rose almost 24% to $176.9 million.

For the third quarter, the company said it expects pharmaceutical sales of $470 million to $485 million.

The company also forecast adjusted EPS of 66 cents to 67 cents in the third quarter and $2.72 to $2.75 in all of 2004. The consensus estimates are for 68 cents and $2.73 a share, respectively.

Recently, shares were off 29 cents, or 0.4%, to $71.71, having traded as high as $73.18.