Allergan (NYSE:AGN) announced its results for the most recent quarter on October 30, 2012. Allergan is a global specialty health care company. It discovers, develops, and commercializes innovative pharmaceuticals, biologics, and medical devices, as well as over-the-counter products.
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The Numbers: Allergan's EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported adjusted net income of $1.06 per share versus the $1.04 per share estimate and revenues of $1.41 billion versus the $1.51 billion estimate. Revenue climbed 6.4% from the same period last year. Allergan's revenue has grown during each of the past four quarters on a year-over-year basis. The company's income has remained about on par with last year's levels.
Management Quote: "In the third quarter, Allergan again delivered solid earnings growth in spite of the strong U.S. Dollar relative to virtually all major currencies," said David E.I. Pyott, Allergan's Chairman of the Board, President and Chief Executive Officer. "In addition, we were pleased to mark the opening of our new R&D facility in New Jersey, as well as to announce the expansion of our relationship with Molecular Partners."
Looking Ahead: For next quarter, analysts have a more positive outlook about the company's expected results. The average estimate for the fourth quarter is $1.20 per share, up from $1.19 90 days ago. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. The average estimate for the fiscal year is $4.16 per share, down from $4.17 90 days ago.