Allergan Inc. of Irvine reported second-quarter results Friday that beat expectations but gave a forecast for the current quarter that was below analysts’ projections.
Allergan, maker of Botox and other drugs, said it made $228.4 million in the second quarter before charges and costs, versus analysts’ forecast of $204 million.
Including charges, Allergan’s profit totaled $176.1 million.
Allergan said its profit jumped on lower costs, despite a dip in sales.
Allergan said its second-quarter sales fell 4% to $1.13 billion, but were above Wall Street expectations of $1.08 billion. Botox sales fell 3% to $336.8 million.
Allergan, whose medical cosmetics products have been affected by the soft economy, was reserved about its expectations for the current quarter.
The drug maker said it expects a profit of $204 million to $210 million in the third quarter.
Analysts expect Allergan to make $219.2 million in the current quarter.
Allergan sees sales coming in at $1.05 billion to $1.1 billion, compared to Wall Street’s expectation of $1.07 billion.
Allergan also gave a full-year forecast. For 2009, the drug maker sees its profit coming in at $825.2 million to $837.3 million.
Wall Street expects Allergan to make $825.2 million in 2009.
Allergan said its full-year sales would be $4.2 billion to $4.3 billion, versus analysts’ expectations of $4.23 billion.
