Mylan Laboratories Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Mylan Laboratories, Inc. (NASDAQ:MYL) will unveil its latest earnings on Wednesday, October 26, 2011. Mylan is a global pharmaceutical company that develops, licenses, manufactures, markets, and distributes pharmaceuticals and active pharmaceutical ingredients.

Mylan Laboratories, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 51 cents per share, a rise of 18.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 54 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 52 cents during the last month. Analysts are projecting profit to rise by 24.2% versus last year to $2.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the second quarter, it reported profit of 52 cents per share versus a mean estimate of 45 cents. Two quarters ago, it reported net income of 44 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $1.54 billion in revenue this quarter, a rise of 13.2% from the year ago quarter. Analysts are forecasting total revenue of $6.15 billion for the year, a rise of 12.8% from last year’s revenue of $5.45 billion.

Analyst Ratings: 11 out of 17 analysts surveyed (64.7%) have a buy rating on Mylan Laboratories.. This is below the mean analyst rating of 10 competitors, which average 66.7% buy ratings.

A Look Back: In the second quarter, profit rose 69.8% to $146.4 million (33 cents a share) from $86.2 million (16 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 15% to $1.57 billion from $1.37 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 12.1% in the first quarter from the year earlier, climbed 6.1% in the fourth quarter of the last fiscal year from the year-ago quarter and 7.2% in the third quarter of the last fiscal year.

Competitors to Watch: Pfizer Inc. (NYSE:PFE), Watson Pharmaceuticals, Inc. (NYSE:WPI), Par Pharmaceutical Companies, Inc. (NYSE:PRX), Impax Laboratories, Inc. (NASDAQ:IPXL), Merck & Co., Inc. (NYSE:MRK), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), Lannett Company, Inc. (AMEX:LCI), Novartis AG (NYSE:NVS), Forest Laboratories, Inc. (NYSE:FRX), and Taro Pharmaceutical Industries Ltd. (TAROF).

Stock Price Performance: During July 27, 2011 to October 20, 2011, the stock price had fallen $5.52 (-24.1%) from $22.90 to $17.38. The stock price saw one of its best stretches over the last year between June 22, 2011 and July 1, 2011 when shares rose for eight-straight days, rising 9.3% (+$2.12) over that span. It saw one of its worst periods between April 27, 2011 and May 6, 2011 when shares fell for eight-straight days, falling 5.3% (-$1.33) over that span. Shares are down $3.75 (-17.7%) year to date.

(Source: Xignite Financials)

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