Updated from 8:25 a.m. EDT

Mylan Laboratories

(MYL) - Get Report

Tuesday reported fourth-quarter earnings that matched Wall Street consensus estimates, while the company's record full-year results easily beat analysts' expectations.

The Pittsburgh-based company specializing in generic drugs also reiterated guidance for the fiscal 2005 year that earnings per share would be in the range of $1.30 to $1.40. The consensus of analysts polled by Thomson First Call is for $1.36 a share.

For the fourth quarter, which ended March 31, Mylan reported net income of $74.85 million, or 27 cents a share, on revenue of $333.4 million. The EPS matched the Wall Street consensus.

For the same period last year, Mylan earned $73.84 million, or 27 cents a share, on revenue of $353.7 million.

For the full fiscal year the company achieved record results, posting net income of $334.6 million, or $1.21 a share, which topped the consensus by 8 cents, on revenue of $1.37 billion. That compares to earnings of $272.4 million, or 96 cents a share, on revenue of $1.27 billion for the prior fiscal year.

"Our financial results were the strongest in our history, and reflect our commitment to achieve average long-term earnings growth of at least 15%," said Robert J. Coury, the company's vice chairman and CEO, in a prepared statement Tuesday.

Shares rose 37 cents, or 1.7%, to $22.29.