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UPDATE 1-Kendle lowers 2006 earnings outlook

Tue Feb 6, 2007 6:56pm EST

Stocks

   

(Adds '07 outlook)

Feb 6 (Reuters) - Kendle International Inc. (KNDL.O) lowered its earnings outlook for 2006, citing one-time charges and lower net service revenue.

The clinical research and drug development services company said it expects to earn 46 cents to 58 cents a share compared with its previous outlook of $1.15 to $1.25 a share.

Excluding items, the company said it expects earnings of $1.20 to $1.25 a share, compared with its prior outlook of $1.45 to $1.55 a share.

The company forecast 2007 profit of $1.57 and $1.77 a share. Excluding items, earnings would be $1.75 to $1.95 a share.

Net service revenue would be $400 million to $420 million in the year, Kendle said.

For 2007, analysts on average expect the company to earn $1.78 a share, excluding any exceptional items, on revenue of $412 million, according to Reuters Estimates. (Reporting by Sayantani Ghosh, Vivek Seal in Bangalore)



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