Noven Tops Third-Quarter Estimates

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Noven Pharmaceuticals (NOVN) - Get Report said third-quarter earnings fell from a year ago but still topped estimates. The company earned $2.5 million, or 10 cents a share, in the latest quarter, down from $3.6 million, or 15 cents a share, a year ago but 2 cents above the consensus estimate as compiled by Thomson Financial/First Call.

Revenue fell $10.4 million from $11.2 million a year ago. Noven attributed the decline to a fall in international orders for the company's patch drugs, which deliver drugs directly through the skin.

The company also said it expects fourth-quarter earnings of about 10 cents to 12 cents a share, in line with analyst expectations. For the year, the company sees earnings of 45 cents to 47 cents a share, up from its previous guidance of 40 cents to 45 cents a share and slightly higher than analyst expectations of 43 cents.