Mylan, Inc. (MYL) reported third quarter 2010 adjusted earnings of 43 cents, beating the Zacks Consensus Estimate of 42 cents. The quarterly EPS was up 16.2% sequentially and 34.4% from the year-ago quarter.
On a GAAP basis, the company reported earnings of 33 cents compared to a loss of 13 cents in the comparable quarter of 2009.
Total revenues for the company increased 7.9% from the previous year quarter to $1.36 billion, but fell short of the Zacks Consensus Estimate of $1.41 billion.
Gross profits increased 14.9% from the previous year quarter to $580.1 million. Gross margins increased 2.9 percentage points to 42.8%. Earnings from operations increased 282.2% from the year-ago quarter to $234.3 million.
Management reaffirmed 2010 adjusted diluted EPS guidance of $1.55 – $1.65. This compares to the current Zacks Consensus of $1.60. Estimates for the quarter had been stable in the run-up to the earnings release, with one analyst raising estimates in the last 30 days.
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