Mylan posts 2Q profit of $167.8 million, result tops expectations

MarketsAssociated Press

Mylan Inc. (MYL) on Thursday reported second-quarter net income of $167.8 million.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, were 91 cents per share.

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The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The generic drugmaker posted revenue of $2.37 billion in the period.

Mylan expects full-year earnings in the range of $4.15 to $4.35 per share.

Mylan shares have declined 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has climbed 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYL at http://www.zacks.com/ap/MYL

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Keywords: Mylan, Earnings Report