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Hospira quarterly earnings down on Mayne expenses

Wed Aug 8, 2007 7:46am EDT

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CHICAGO, Aug 8 (Reuters) - Hospira Inc. (HSP.N), a maker of hospital products and specialty pharmaceuticals, on Wednesday said its quarterly net earnings fell on costs from its acquisition of Mayne Pharma.

Mergers & Acquisitions  |  Global Markets

Second-quarter net earnings dropped to $30.7 million, or 20 cents per diluted share, from $54.2 million, or 34 cents per share, a year earlier.

Excluding special items, the Lake Forest, Illinois-based company said it had earned 49 cents per share.

Wall Street analysts on average had forecast profit of 48 cents a share excluding one-time items, according to Reuters Estimates.

Quarterly sales jumped nearly 30 percent to $869.4 million, fueled by Mayne results. Excluding Mayne, sales grew just 2.8 percent. (Reporting by Debra Sherman)

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