EARNINGS ROUNDUP
Times Wire Reports
Amgen Inc. said first-quarter profit fell 7.4%, missing analyst estimates, as sales declined for its top-selling anemia and arthritis medicines.
Net income fell to $1.02 billion, or 98 cents a share, from $1.10 billion, or $1.01, a year earlier, the Thousand Oaks-based pharmaceutical company said. Earnings, excluding certain costs, missed the $1.14 a share average estimate of analysts surveyed by Bloomberg. Revenue dropped 8.4% to $3.31 billion.
Amgen maintained its 2009 annual forecast of $4.55 to $4.75 a share but lowered its sales estimate to a range of $14.4 billion to $14.8 billion, from $14.8 billion to $15.2 billion.
Amgen shares fell $1.17, or 2.5%, to $45.65 in extended trading.
