Orange County Business Journal

Allergan in Line on Quarterly Profit, Revenues

Vita Reed Thursday, February 2, 2012

Irvine’s Allergan Inc. today reported fourth-quarter financial results in line with expectations and provided measured guidance for the current quarter and 2012.

The maker of Botox and other drugs said it earned $310 million before items during the quarter, up 14% from a year earlier.

Wall Street expected Allergan to earn $310 million in the quarter.

Including items, Allergan’s quarterly profit totaled $279.8 million, up 6% from last year’s fourth quarter.

Fourth-quarter revenue came in at $1.4 billion, up 7% from a year earlier and in line with analysts’ expectations of $1.41 billion.

Sales of Botox, Allergan’s flagship drug, grew 8% in the fourth quarter to $415.3 million.

Allergan said it expects profit to come in at $260.4 million to $266.6 million for the current quarter, below consensus estimates of $282.1 million.

The company said it expects first-quarter product sales, which are slightly less than total sales, of $1.34 billion to $1.39 billion. Wall Street expects Allergan’s total revenue for the current quarter to be $1.38 billion.

Allergan said it expects a full-year profit of $1.28 billion to $1.3 billion, slightly below analysts’ consensus estimate of $1.305 billion.

The drug maker said it expects full-year product sales of $5.65 billion to $5.85 billion. Wall Street expects the company’s full-year total revenue to be $5.89 billion.