Watson Pharmaceuticals, Inc. (NYSE:WPI) Posts lower profit

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Watson Pharmaceuticals, Inc. (NYSE:WPI) fell 0.90% to $35.01 after said Wednesday that its third-quarter net income fell to $63 million, or 55 cents a share, from $71 million, or 62 cents a share, in the year-earlier period. On an adjusted basis, earnings in the latest quarter were 66 cents a share. The pharmaceutical company said net revenue rose to $662 million from $641 million. Analysts polled by FactSet had been expecting earnings of 64 cents a share on sales of $688 million. The company also said it expects to report full-year earnings of $2.04 to $2.12 a share and adjusted full-year earnings of $2.50 to $2.58 a share. Analysts are looking for $2.52 a share, according to FactSet.

Watson Pharmaceuticals, Inc. (Watson) is a specialty pharmaceutical company engaged in the development, manufacture, marketing, sale and distribution of brand and generic (off-patent) pharmaceutical products. Watson operates and manages its business as three operating segments: Generic, Brand and Distribution.

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