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Provider: Thomson Reuters Stock Report
Provider: Stock Traders Daily
Provider: New Constructs, LLC
Provider: MacroRisk Analytics/EconomicInvestor

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Merck & Co Inc Lowers FY 2013 Guidance

Wednesday, 1 May 2013 07:00am EDT 

Merck & Co Inc announced it expects fiscal 2013 non-GAAP EPS to be between $3.45 and $3.55, and fiscal 2013 GAAP EPS to be between $1.92 and $2.16. The fiscal 2013 non-GAAP range excludes acquisition-related costs, costs related to restructuring programs and certain other items. The Company updated its full-year guidance due to pressures on sales that are greater than previously anticipated, including foreign exchange, as well as new R&D programs and a revised tax rate. At current exchange rates, Merck now expects fiscal 2013 sales to be approximately 3% to 4% below prior year levels with foreign exchange accounting for more than 2% points of the decline. The Company reported revenue of $47.267 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $3.62 and revenue of $46.192 billion for fiscal 2013.