November 4, 2010 / 9:17 PM / 7 years ago

UPDATE 1-Jazz Pharma Q3 beats Wall Street, raises FY EPS view

* Q3 EPS $0.41 beats Street by 7 cents

* Revenue almost doubles to $44.8 mln

* Raises 2010 EPS view to $1.45-$1.50

* Shares up 13 pct

Nov 4 (Reuters) - Jazz Pharmaceuticals Inc (JAZZ.O) posted better-than-expected quarterly profit, helped by higher sales of its sleep disorder drug, and raised its full-year earnings view, sending its shares up 13 percent after the bell.

For 2010, the company expects to earn $1.45-$1.50 a share, up from prior view of $1.05-$1.15 a share.

Analysts on average were expecting earnings of $1.15 a share, according to Thomson Reuters I/B/E/S.

The company also sees total product sales of $164-$168 million, compared with earlier estimate of $156-$162 million.

For the July-September quarter, the company reported a net income of $13.2 million, or 32 cents a share, compared with net loss of $1.7 million, or 5 cents a share, a year ago.

    Excluding items, it earned 41 cents a share.

    Revenue almost doubled to $44.8 million.

    Analysts on average expected earnings of 34 cents a share on revenue of $42.6 million.

    Sales of the company’s sleep disorder drug Xyrem rose 49 percent to $37.2 million while sales of Luvox, the once-a-day drug to treat social anxiety disorder, rose 33 percent to $6.6 million.

    Palo Alto, California-based company’s shares, which have risen 18 percent since the U.S health regulator rejected its experimental drug to treat fibromyalgia, closed at $12.40 on Thursday on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Don Sebastian)

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