UPDATE 1-Warner Chilcott Q1 net loss narrows, raises 2007 view

Fri May 11, 2007 8:39am EDT

(Recasts; adds Q1 earnings details, 2007 view, share movement)

May 11 (Reuters) - Warner Chilcott Ltd. (WCRX.O) reported a narrower quarterly loss on higher sales of oral contraceptives and dermatology products, and raised its 2007 results forecast.

The specialty pharmaceutical company reported a first-quarter loss of $4.5 million, or 2 cents a share, compared with a loss of $27.3 million, or 55 cents a share, in the year-ago period.

Excluding an expense of $7.5 million related to the settlement of a lawsuit, earnings were 23 cents a share for the period, the company said in a statement.

Warner Chilcott said quarterly revenue rose 31 percent to $218.4 million, helped by sales of oral contraceptive Loestrin 24 Fe and skin product Taclonex, which together contributed $63.6 million to total revenue.

Analysts were expecting earnings of 18 cents a share, excluding items, on revenue of $204.7 million for the quarter, according to Reuters Estimates.

The company said it now expects 2007 earnings of 94 cents to 96 cents a share, excluding items, compared with its previous view of 90 cents to 92 cents a share.

It also raised its 2007 revenue view to a range of $850 million to $870 million from its prior forecast of $820 million to $840 million.

Analysts are expecting earnings of 93 cents a share, before items, on revenue of $835.2 million for 2007.

Shares rose about 5 percent to $17.14 in pre-market trade after closing at $16.25 Thursday on the Nasdaq.

(Reporting by Deepti Chaudhary in Bangalore)

((Editing by Rumman Ahmed; Reuters Messaging: deepti.chaudhary.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: WARNERCHILCOTT RESULTS/

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