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Thursday, October 29, 2009

Allergan Posts Higher Third-quarter Profit

By Val Brickates Kennedy

MarketWatch Pulse

BOSTON -- Allergan Inc. posted a higher third-quarter profit early Thursday. The ophthalmology and dermatology products conglomerate reported net income of $179 million, or 58 cents a share, compared with $165 million, or 54 cents a share, for the 2008 quarter. Excluding various items, Allergan would have reported adjusted earnings per share of 70 cents versus 65 cents. Revenue was $1.141 billion versus $1.098 billion. A poll of analysts by FactSet Research pegged the company at posting earnings per share of 69 cents, on revenue of $1.08 billion. The conglomerate said it now sees 2009 adjusted earnings coming in between $2.75 and $2.77 a share, with net product sales of between $4.35 billion and $4.4 billion. Allergan also announced a third-quarter dividend of 5 cents a share, payable on Nov. 30 to shareholders of record as of Nov. 9.

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