Earnings Outlook Boosts Eon Labs

Shares of Eon Labs ( ELAB), a maker and distributor of pharmaceuticals, were surging after the company affirmed its earnings guidance for the second quarter and full year.

In a press release Friday, Eon, which is based in Laurelton, N.Y., projected second-quarter sales of $70 million to $75 million and earnings of 29 cents to 32 cents a share. The company expects a top line of $285 million to $300 million and earnings of $1.18 to $1.23 a share for the full year.

Thomson First Call carries earnings estimates of 30 cents for the second quarter and $1.25 for 2003, but those figures are based on the forecasts of only two analysts. The analysts are looking for second-quarter revenue of $72 million and full-year sales of $293.5 million.

Eon's stock was gaining $2.38, or 9%, to $29.40 in recent Nasdaq trading.

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