November 8, 2010 / 1:04 PM / 9 years ago

CORRECTED - CORRECTED-UPDATE 1-Warner Chilcott Q3 profit beats Street; ups F

(Corrects net income figure in paragraph 4 to $424.2 million, not $42.4 million)

* Q3 adj EPS $0.86 vs est $0.85

* Revenue $703.2 mln vs est $750.1 mln

* Raises FY10 EPS view to $3.35-$3.45 from $3.25-$3.35

* Cuts FY rev view to $2.8-$2.85 bln from $2.9-$2.95 bln

Nov 8 (Reuters) - Specialty pharmaceutical company Warner Chilcott WCRX.O posted a better-than-expected quarterly profit, helped by revenue from products acquired from Procter & Gamble (PG.N) last year, and raised its full-year adjusted earnings outlook.

Warner Chilcott, which also makes an array of female hormone replacement therapies, now expects full-year adjusted earnings of $3.35-$3.45 a share. However, the company cut its revenue forecast to $2.8-$2.85 billion.

Analysts are expecting the drugmaker to earn $3.43 a share on $3.01 billion in revenue, according to Thomson Reuters I/B/E/S.

July-September net income was $57.5 million, or 23 cents a share, compared with $424.2 million, or $1.69 share, last year.

Excluding items, it earned 86 cents a share.

Revenue rose more than two-fold to $703.2 million.

Revenue from products acquired from P&G, mainly osteoporosis drug Actonel and Asacol, which treats a form of inflammatory bowel disease, totalled $448.4 million.

Analysts on average were expecting the company to earn 85 cents a share on revenue of $750.1 million, according to Thomson Reuters I/B/E/S.

The Ireland-based company’s shares, which have fallen nearly a percent since the company got U.S. health regulators’ nod for its postmenopausal osteoporosis drug in October, closed at $23.34 Friday on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Maju Samuel)

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