Barr Labs Wipes Out Estimates - TheStreet

Barr Laboratories

(BRL)

blew out fiscal first-quarter earnings estimates on a 64% year-over-year revenue gain.

The company said it earned $53.1 million, or $1.17 a share, in the fiscal third quarter ending March 31, compared with $18.1 million, or 40 cents a share, a year ago. On average, analysts were expecting earnings of 83 cents a share, according to Thomson Financial/First Call.

Total revenue for the third quarter was $261.4 million, a gain of 64% over total revenue of $159.8 million for the same period last year, but down from the $366 million in sales in the second quarter.