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Prospect News home > News index > List of issuers A > Headlines for Alpharma Inc. > News item
Published on 5/1/2006 in the Prospect News Biotech Daily.

Alpharma says Q1 EPS more than triples to $0.62, revenue hits $34.9 million

By Angela McDaniels

Seattle, May 1 - Alpharma Inc. said its diluted earnings per share grew 265% to $0.62 for the first quarter ended March 31 from $0.17 for the first quarter of 2005 and earnings from continuing operations grew to $0.37 per share from a $0.02 diluted loss per share during the same period.

According to a company news release, first-quarter 2006 results include earnings per share of $0.49 from discontinued operations, which consists primarily of a $25.8 million after-tax gain on the sale of ParMed Pharmaceuticals Inc., the company's generic pharmaceutical telemarketing distribution business, during the first quarter of 2006.

Alpharma reaffirmed its previous guidance of full-year 2006 earnings per share from continuing operations of $1.25 to $1.35.

Net income grew by 280% to $33.4 million for the first quarter of 2006 from $8.8 million for the first quarter of 2005.

Revenue increased by 28% to $159.0 million in the first quarter from $124.1 million during the same period of 2005.

The company attributed the increase to "significant" revenue growth in each of the company's businesses. Sales of Kadian, Alpharma's branded product, increased by 77% to $32.6 million for the first quarter from $18.4 million a year earlier, for example.

As of March 31, the company had no outstanding debt and $266.5 million of cash and cash equivalents.

The company will hold a conference call to discuss first-quarter results at 8:30 a.m. ET on Tuesday. The conference is accessible by calling 800 374-0147 for domestic calls or 706 634-5431 for international calls. The conference ID is 8327931. A rebroadcast can be viewed at www.streetevents.com.

Alpharma is a specialty pharmaceutical company based in Fort Lee, N.J.


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