Sepracor Investors Should Sleep Easy
Make a commentBy Ed Silverman // January 31st, 2007 // 7:25 am
That’s because earnings nearly tripled for the little company that sells the Lunesta insomnia pill.
“It marks our first full year of operating profits and the first year that revenues exceeded one billion dollars,” say Tim Barberich, Sepracor’s ceo, in a statement.
Fourth-quarter profit was $99.1 million, or 85 cents, up from $36.9 million, or 31 cents. The results include a 12 cents charge for stock-based compensation. Revenue hit $357.2 million, up from $311.1 million. Analysts expected 62 cents in earnings and sales $341.4 million.[tags]Lunesta, Sepracor[/tags]