said strong sales of generic products and the performance of drug pacts with
helped lift fiscal first-quarter revenue 27% from a year ago.
The Woodcliff Lake, N.J., drug company earned $83.2 million, or 78 cents a share, on revenue of $310 million for the quarter ended Sept. 30. A year ago, Barr earned $52.1 million, or 49 cents a share, and had revenue of $245 million.
The latest quarter included stock-based compensation expenses of 5 cents a share and a charge of 2 cents a share for a potential indemnity obligation with Teva.
Sales of Barr's generic products were $207 million for the first quarter, up from $180 million in the prior-year period. Barr said sales of the contraceptive Seasonale rose 36% from last year to $22 million, but overall proprietary product sales fell 5% to $60 million.
Looking forward, Barr reiterated its earnings guidance of $2.95 to $3.10 a share for the fiscal year ending June 30. The company's outlook includes stock-based compensation expenses, but leaves out certain items, including the pending acquisition by its Duramed unit of FEI Women's Health.
Analysts surveyed by Thomson First Call were expecting a profit of 77 cents a share in the first quarter. The consensus earnings estimate for the fiscal year is $3.08 a share.