Business in the Burbs

Earnings tumble 85% at Barr Pharmaceuticals

May

Barr Pharmaceuticals Inc., which has research operations in Pomona, reported today that its first quarter earnings tumbled 84.7 percent after accounting for costs associated with its October purchase of Croatian generic-drug maker Pliva d.d.

Barr reported first-quarter earnings of $11.6 million, compared to $76.1 million a year earlier. On an individual-share basis, the drug manufacturer earned 11 cents a share in the three months that ended March 31. A year ago, the Woodcliff Lake, N.J.-based company earned 70 cents a share.

The current quarter results reflect the discontinuation of two businesses that Barr acquired in the Pliva transaction, Barr said.

Revenues for the quarter rose 83.1 percent to $599 million from $327 million a year ago.

Shares of the company were trading higher about 9:50 a.m., up $2.10, or 4.2 percent, to $51.99.

This entry was posted on Wednesday, May 9th, 2007 at 9:58 am by David Schepp. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings season, Mergers & acquisitions

Print | Email

It is a condition of your use of the comment features associated with the blogs that you do not: Use the site to post or transmit any unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane or indecent information of any kind, including without limitation any transmissions constituting or encouraging conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any local, state, national or international law. You alone are responsible for the material you post or send. Refer to the Terms of Service.