Mylan Posts Jump In Q4 Profit
Mylan Inc (NASDAQ: MYL) posted a surge in its fourth-quarter earnings.
Mylan's quarterly profit climbed to $129.5 million, or $0.30 per share, from $2.59 million, or $0.01 per share, in the year-ago period. Excluding one-time items, Mylan earned $0.53 per share. Its revenue rose 6.7% to $1.53 billion. However, analysts were expecting earnings of $0.50 per share on revenue of $1.56 billion.
Mylan's gross margin climbed to 42.1% from 40.4%.
Mylan shares closed at $23.42 on Friday.
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