Allergan’s Earnings Rise 28% for Its First Quarter
Allergan Inc., the manufacturer of eye- and skin-care products, Tuesday reported higher sales and a profit for the first quarter.
Allergan said its earnings rose 28% to $20.1 million, equal to 30 cents per share, up from $15.7 million, or 23 cents per share, a year ago.
It had revenue of $210.1 million for the three months ended March 31, up 7% from $196.2 million in the year-ago period.
“Our cash flow continues to be strong, and we will continue to invest in major projects,” said William C. Shepherd, Allergan’s president and chief executive. This includes a $30-million research and development facility being built in Irvine, which is expected to be completed next spring.
The sales of Allergan’s eye products rose by 14.7%, to $86 million from $75 million last year. Sales of skin products rose 5%, to $5.9 million.
About 52% of Allergan’s revenue for the quarter ended March 31 came from international sales, up from 51% last year.
Allergan stock remained unchanged at $21.25 a share in trading Tuesday on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
