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Drug maker Orion slightly misses Q1 market forecast
April 29, 2014 / 9:16 AM / 4 years ago

Drug maker Orion slightly misses Q1 market forecast

HELSINKI, April 29 (Reuters) - Finnish drug maker Orion reported first-quarter operating profit slightly below analyst estimates, but kept its outlook for the year unchanged.

January-March operating profit fell to 67 million euros ($93 million) from 74 million in the same period a year earlier, and was below the average estimate of 71 million in a Reuters poll of analysts.

The results wiped out most of the early gains in the company’s shares. They traded up 0.2 percent for the day at 23.79 euros by 0910 GMT.

Orion repeated its outlook, saying it expected this year’s sales to be at the same level as in 2013, and operating profit to fall slightly. ($1 = 0.7223 Euros) (Reporting by Sakari Suoninen)

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