(By Balachander) Warner Chilcott Plc (NASDAQ: WCRX) lifted its earnings forecast after the women healthcare company posted an increase in net income for the third quarter.
Earnings were $113 million or $0.45 per share for the third quarter, compared with $33 million or $0.13 per share in the comparable period of last year.
Adjusted cash net income (CNI) was 99 cents a share for the three months ended Sept. 30, 2012.
Revenue fell 7 percent to $606 million as revenue of postmenopausal osteoporosis treatement ACTONEL declined 28 percent and decreases in the U.S. oral bisphosphonate market.
Wall Street analysts, on average, expected earnings of $0.78 per share on revenue of $600 million.
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Selling, general and administrative fell 15 percent. The company recorded restructuring costs of $45 million in the year-ago period.
Looking ahead for the full year, the Ireland-based company now expects adjusted CNI per share in the range of $3.75 to $3.85 from prior expectations of $3.55 to $3.65. Revenue is still projected to be between $2.40 billion and $2.50 billion.
Analysts expect earnings of $3.69 per share on revenue of $2.50 billion for 2012.
The company's other principal products include ATELVIA to treat postmenopausal osteoporosis; LOESTRIN 24 FE and LO LOESTRIN FE, which are oral contraceptives for the prevention of pregnancy; ESTRACE cream, a vaginal cream for the treatment of vaginal and vulvar atrophy.
WCRX shares, which have been trading in the 52-week range of $11.21 to $23.28, closed at $11.46 on Thursday.