Mylan Inc. (NYSE: MYL) reported Thursday that the company posted a fourth-quarter profit, citing higher generic drug sales and international revenue, according to Associated Press.
In addition, the company also affirmed their 2010 outlook and named its chief financial officer.
The company said earnings available to common shareholders was $4.1 million, or 1 cent per share, versus a loss of $54.6 million, or 18 cents per share, a year earlier.
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Revenue rose 12 percent to $1.35 billion from $1.2 billion a year ago. Excluding charges, mainly for legal settlements, the company said it earned 33 cents per share.
Analysts polled by Thomson Reuters expected a lower adjusted profit of 30 cents per share on lower revenue of $1.25 billion. The earnings estimates typically exclude one-time items.
Revenue from generic drugs rose 14 percent to $1.29 billion from $1.13 billion.
For the full year, the company earned $93.5 million, or 30 cents per share, versus a loss of $335.1 million, or $1.10 per share, in 2008. Revenue fell to $5.09 billion from $5.14 billion.
The company reaffirmed its outlook for profit between $1.50 and $1.70 per share in 2010. Analysts expect $1.54 per share in profit.
Mylan also named John D. Sheehan as its chief financial officer, effective April 1. Sheehan is currently chief financial officer at auto parts and technology company Delphi Automotive LLP. He replaced Jolene Varney, who had left as CFO at Mylan in September.
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