Mylan Affirms FY2006 Outlook

The company also says first-quarter earnings should be better than expected.
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Mylan Laboratories

(MYL) - Get Report

said first-quarter earnings should top Wall Street's estimates, and the drug company reaffirmed its guidance for fiscal 2006 and fiscal 2007.

The Canonsburg, Pa., company expects adjusted earnings of 24 cents to 26 cents a share for the first quarter. Thomson First Call has a mean estimate of 19 cents a share for the quarter.

For fiscal 2006, Mylan projected adjusted earnings of 92 cents to $1.15 a share. For fiscal 2007, the company forecast a profit of $1.20 to $1.74.

On average, analysts expect earnings of 95 cents a share for fiscal 2006 and $1.23 the next year.

Shares of Mylan were up 46 cents, or 2.4%, to $19.87.