CANONSBURG (dpa-AFX) - Mylan Inc. (MYL), Wednesday reported an increase in fourth-quarter profit that also beat analysts' estimates, on revenue growth. Revenues, however, fell short of Street expectations.
Net earnings attributable to the company improved to $162.0 million or $0.39 per share from $129.5 million or $0.30 per share last year.
Adjusted earnings rose to $266.9 million or $0.65 per share from $226.6 million or $0.53 per share last year. On average, analyst polled by Thomson Reuters estimated earnings to be $0.64 per share. Analyst estimates typically exclude one-time items.
Mylan's total revenues for the quarter grew 12.5 percent to $1.72 billion from $1.53 billion last year. Analysts estimated revenues of $1.73 billion for the quarter.
For the full year 2013, the company expects earnings of $2.75 to $2.95 per share and revenues of $7.00 billion to $7.40 billion. Analysts currently estimate earnings of $2.80 per share on revenues of $7.16 billion for the period.
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