CANONSBURG (dpa-AFX) - Shares of Mylan N.V. (MYL) dropped over 5% on Tuesday extended trading session after the drug maker's fourth-quarter earnings fell short of expectations and full-year 2019 earnings were below current estimates.
Fourth-quarter profit dropped to $51.2 million or $0.10 per share from $244.3 million or $0.46 per share a year ago.
On an adjusted basis, earnings of $669.7 million or $1.30 per share, down fro $765.3 million or $1.43 per share last year. Analysts polled by Thomson Reuters expected earnings of $1.36 per share. Analysts' estimates typically exclude special items.
Mylan's revenues for the quarter fell 4.9% to $3.08 billion from $3.24 billion last year. Analysts had a consensus revenue estimate of $3.08 billion for the quarter.
Looking forward to full year 2019, Mylan expects adjusted earnings of $3.80 to $4.80 per share and revenues of $11.50 billion to $12.50 billion. Analysts currently estimate earnings of $5.04 per share and revenues of $11.86 billion.
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