swung to a fourth-quarter loss, hit by restructuring and impairment charges.
The company lost $720,000, or 1 cent a share, in the quarter, compared with earnings of $69 million, or 83 cents a share, a year ago. Adjusted for items relating to income tax and restructuring and impairment costs, earnings were $61 million, or 76 cents a share. Analysts polled by Thomson First Call estimated earnings of 71 cents a share in the quarter.
Fourth-quarter revenue fell 4% from the year-ago quarter to $447 million, hurt by foreign currency translation.
Excluding the aftertax impact of restructuring costs and expensing of stock options, the company expects to earn $2.95 a share to $3 a share in the full year 2006.
The $67.5 million aftertax impairment and restructuring charge relates to the company's decision to close its Chicago-based pharmaceutical manufacturing facility.
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