Alere Inc Posts Mixed Results (ALR)

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Alere Inc.
ALR
announced on Monday morning that it missed consensus Wall Street earnings estimates, while beating revenue expectations. Alere Inc reported a 3rd quarter net loss of $2.8 million, or 3 cents per share, compared to net income of $14.3 million, or 17 cents per share, a year earlier. Excluding special items, the company's earnings came in at 59 cents per share. The company's revenue rose to $538.7 million, up from $512.7 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 65 cents per share, on revenue of $533.42 million. Alere Inc. (ALR) closed the previous trading day at $29.55 per share. Analysts covering the company's stock give it a consensus price target of $38.78 per share. Read more
from Benzinga's Company news.
Posted In: EarningsNews
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