Merck Guides In Line With Estimates

Merck provided full-year earnings guidance in the range of $3.29 to $3.39 a share, excluding certain items.
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NEW YORK (TheStreet) -- Merck (MRK) - Get Report provided full-year earnings guidance in the range of $3.29 to $3.39 a share, excluding certain items, and reaffirmed its target of high single-digit comparable earnings per share compound annual growth rate from 2009 to 2013, after topping consensus estimates for the second quarter.

Analysts, on average, expect full-year earnings of $3.37 a share on revenue of $45.69 billion.

Merck reported second-quarter earnings of $752.4 million, or 24 cents a share, vs. $1.56 billion, or 74 cents a, share the previous year. Excluding items such as purchase accounting adjustments, merger-related expenses, restructuring costs and a gain on AstraZeneca's asset option exercise, second-quarter earnings were 86 cents a share vs. 83 cents the previous year.

The Wall Street consensus estimate for Merck's second quarter was earnings of 83 cents a share on revenue of $11.45 billion.

Merck shares were lower by 0.7% to $34.80 in premarket trading.

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Total sales for the quarter were $11.346 billion, up 92%. The company said it saw strong performance in pharmaceutical products, consumer care and animal health during the quarter.

-- Reported by Andrea Tse in New York

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