Biogen Idec 1st-qtr sales up 7% but fail to match expectations

2 May 2012

US biotech company Biogen Idec (Nasdaq: BIIB) post first-quarter 2012 sales of $1.29 billion, a rise of 7%, but slightly below analysts’ consensus estimates of $1.31 billion. Profit rose 2.8% to $302.7 million, or $1.25 a share, versus $1.20 a share, a year earlier. Excluding items such as asset amortization and restructuring costs, earnings per share fell to $1.40 a share from $1.43. Analysts polled by Thomson Reuters had most recently forecast EPS of $1.48 a share.

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