lifted the low end of its full-year revenue forecast and raised its 2006 earnings guidance by 10 cents a share.
The California-based biotech company now expects adjusted earnings of $3.85 to $3.95 a share this year, excluding stock option expenses and certain other costs, up from the prior range of $3.75 to $3.85.
Whereas Amgen previously said revenue for the entire year would be $14 billion to $14.3 billion, it now believes it will post a top line of $14.1 billion to $14.3 billion. Analysts' consensus forecast is for a profit of $3.84 and revenue of $14.19 billion.
Shares of Amgen rose 2.4% to $75.15 in after-hours trading Monday.
The outlook came as Amgen reported third-quarter revenue of $3.61 billion, up 15% from $3.15 billion in the same period a year ago and in line with Wall Street's estimates.
Earnings, excluding option costs and other items, totaled $1.22 billion, or $1.04 a share, for the quarter. On the same basis, Amgen earned $1.07 billion and 85 cents a share a year ago. Including 3 cents of option expenses in both quarters, adjusted earnings rose to $1.01 a share from 82 cents last year.
Analysts surveyed by Thomson Financial were calling for a profit of 98 cents a share in the latest third quarter.
Calculated using generally accepted accounting principles, Amgen earned $1.1 billion, or 94 cents a share, up from $967 million, or 77 cents a share, a year ago.