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Bone Care earnings surge

Bone Care earnings surge
00:00 am 4/27/05
Andrew Wallmeyer
Wisconsin State Journal

Bone Care International's third-quarter earnings surged as sales nearly doubled, prompting the Middleton- based specialty pharmaceutical company to raise its full-year revenue guidance.

After the closing bell, the company reported earnings of $2.5 million, or 12 cents a share, on sales of $22 million, topping analysts' expectations. In the third quarter of fiscal 2004, the first period in which the company earned a profit, Bone Care earned $302,132, or 2 cents a share, on $11.6 million in sales.

Bone Care now projects annual sales of $82 million to $83 million in fiscal 2005, up from guidance of $77 million to $80 million.

Wall Street reacted to the news by sending Bone Care stock up 15 cents in after-hours trading, to $24.73 a share.

The company's sales come exclusively from Hectorol, a vitamin D-based drug designed to combat bone mineral loss and related health problems in patients with chronic kidney disease.

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