WASHINGTON (dpa-AFX) - Salix Pharmaceuticals, Ltd. (SLXP) Thursday reported second-quarter profit of $21.0 million, up from $20.13 million in the same period last year. On a per-share basis, earnings were $0.32 per share, flat with last year.
Adjusted earnings for the quarter was $49.6 million or $0.76 per share. On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 30 percent to $235.4 million from $181.0 million last year. Analysts expected revenues of $226.34 million.
Looking ahead to the third quarter, the company expects to report earnings of $0.84 per share, with adjusted earnings of $0.97 per share. Analysts currently expect third-quarter earnings of $0.94 per share.
For the fiscal 2013, the company currently projects earnings of $3.20 per share, with adjusted earnings of $3.68 per share. The company earlier expected earnings of $3.37 per share and adjusted earnings of approximately $3.93 per share.
Revenues are expected to be about $920 million. Analysts currently expect the company to report full-year earnings of $3.41 per share on revenues of $923.99 million.
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