Merck predicts higher-than-expected first-quarter results

By Angela McDaniels

Seattle, April 4 - Merck & Co. Inc. said it anticipates its first-quarter earnings will be $0.71 to $0.75 per share, excluding restructuring charges, and reported first-quarter earnings will be $0.61 to $0.67 per share.

Merck attributed these estimates to strong Zocor revenue in the first quarter and the timing of marketing, as well as lower administrative and research and development expenses.

The company maintained its full-year 2006 earnings estimate of $2.28 to $2.36 per share, excluding the restructuring charges related to site closures and position eliminations, and reported a full-year 2006 earnings estimate of $1.98 to $2.12 per share.

This guidance does not reflect the establishment of any reserves for any potential liability relating to the Vioxx litigation, according to a company news release.

The Whitehouse Station, N.J.-based pharmaceutical company will hold a first-quarter 2006 sales and earnings conference call with institutional investors and analysts on April 20, during which the company will provide an overview of its financial performance for the quarter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.