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UPDATE 1-West Pharmaceutical's Q4 profit falls on charges

Thu Feb 21, 2008 8:17am EST

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Feb 21 (Reuters) - West Pharmaceutical Services Inc (WST.N) posted a lower fourth-quarter profit on restructuring and impairment charges, but forecast 2008 revenue that could meet or exceed analysts' estimates.

The syringe components maker earned $6.0 million, or 19 cents a share, compared with profit of $15.0 million, or 44 cents a share in the year-ago quarter.

After adjusting for restructuring and impairment charges and effects of tax contingencies, it earned 51 cents a share.

Analysts, on average, expected earnings of 48 cents a share, before special items, according to Reuters Estimates.

Sales rose 10 percent to $256.1 million. Analysts expected revenue of $247.4 million.

For 2008, the company forecast earnings of $2.40 to $2.50 a share, excluding restructuring costs, on sales of $1.05 billion to $1.07 billion.

Analysts' were expecting earnings of $2.42 a share, before special items, on revenue of $1.05 billion.

West Pharmaceutical expects 2008 sales to generate a consolidated gross profit margin of about 30 percent, compared with 2007 gross margin of 28.6 percent. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Himani Sarkar)



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