Revenues jump 92% at First Horizon
US specialty drugmaker First Horizon Pharmaceutical Corp has posted a92% rise in net revenues to $18.5 million for the third quarter of 2001, while net income was $3.16 million or $0.11 per share, up from $955,000 or $0.04 for the corresponding period in 2000. Analysts polled by Thomson Financial/First Call had, on average, expected the company to post net income of $0.09 per share.
First Horizon said its 2001 outlook remains consistent with earlier guidance, and that it is comfortable with analysts' expectations of full-year 2001 EPS of $0.35. For 2002, this should rise to $0.54-$0.55 per share.
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