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Thursday, November 05, 2009
King Pharmaceuticals Reports Profit Fall
By Sam Mamudi
MarketWatch Pulse
NEW YORK -- King Pharmaceuticals Inc. said Thursday its third-quarter profit fell to $42 million, or 17 cents a share, from $82 million, or 34 cents a share, in the year-ago period. Total revenues rose 19.3% to $463 million. The Bristol, Tenn.-based pharmaceutical company said adjusted earnings were 29 cents a share. Analysts surveyed by FactSet Research had expected, on average, earnings of 26 cents a share on revenue of $447 million.
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