Wrinkles

... Allergan Posts 8% Gain in 4th-Quarter Profit - Los Angeles Times Business HOME | HELP •MEMBER SERVICES •SIGN UP Join now!

NEWS ENTERTAINMENT OTHER SECTIONS CLASSIFIEDS JOBS CARS HOMES RENTALS SHOPPING Site Web February 3, 2006 latimes.com : Business E-mail story Print Most E-mailed Change text size CALIFORNIA AND THE WEST Allergan Posts 8% Gain in 4th-Quarter Profit From Associated Press Allergan Inc., best known for its Botox wrinkle treatment, said Thursday that its fourth-quarter profit increased 8% on the strength of higher pharmaceutical sales.

Net income grew to $122 million, or 90 cents a share, from $112.5 million, or 85 cents, a year earlier.

Excluding restructuring and other charges, the company reported adjusted earnings of $124.3 million, or 91 cents.

ADVERTISEMENT Revenue rose 7% to $594.9 million from $556.2 million in 2004, with pharmaceutical sales up 11%.

Eye-care sales rose 13% to $340.6 million.

Analysts surveyed by Thomson Financial expected earnings per share of 89 cents on revenue of $583.7 million for the quarter.

"It appears to be another high-quality quarter from Allergan, but one marked by one of the slowest growth in eye-care pharmaceuticals in two years and the slowest growth in Botox ever," Banc of America Securities analyst David Maris wrote in a note Thursday.

Allergan's Botox sales during the quarter were $227.3 million.

Maris had been expecting Botox sales to hit about $235 million.

Investors seemed to take note of ...

Read more...