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News & Analysis US

Allergan Q2 Profit Rises; Guiides Q3; Backs FY10 Adj. EPS View - Quick Facts

August 2, 2010, Monday, 13:18 GMT | 08:18 EST | 16:48 IST | 19:18 SGT

(RTTNews) - Allergan Inc. (AGN) reported that its second-quarter net earnings attributable to the company were $240.1 million or $0.78 per share, up from $176.1 million or $0.58 per share in the same quarter last year.

The company reported $0.85 non-GAAP earnings per share attributable to stockholders compared to $0.75 non-GAAP diluted earnings per share attributable to stockholders for the second quarter of 2009, a 13.3% increase. Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $1.247 billion, compared to $1.130 billion in the prior year quarter. Fifteen analysts had consensus revenue estimate of $1.20 billion for the quarter.

"During the second quarter, Allergan continued to deliver strong operating results in both our pharmaceutical and medical device businesses as we benefited from a continuing recovery in our cash-pay aesthetics businesses around the world," said David E.I. Pyott, Allergan's Chairman of the Board and Chief Executive Officer.

Allergan also announced that its Board has declared a second quarter dividend of $0.05 per share, payable on September 7, 2010 to stockholders of record on August 17, 2010.

For the third quarter of 2010, the company expects Non-GAAP earnings per share attributable to stockholders to be between $0.75 and $0.77. Total product net sales are expected to be between $1.130 billion and $1.180 billion. Analysts expect the company to report earnings of $0.79 per share on revenues of $1.19 billion for the third-quarter.

For fiscal 2010, the company still expects non-GAAP earnings attributable to stockholders to be between $3.11 and $3.15 per share. The company now expects total product net sales between $4.620 billion and $4.750 billion, compared to prior estimates of $4.55 billion and $4.75 billion. Analysts expect the company to report earnings of $3.16 per share on revenues of $4.77 billion for fiscal 2010.