Mallinckrodt: 3Q Earnings Snapshot
SURREY, Britain (AP) _ Mallinckrodt PLC (MNK) on Tuesday reported a third-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.
The Surrey, Britain-based company said it had a loss of 1 cent per share. Earnings, adjusted for one-time gains and costs, were $2.07 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The specialty pharmaceutical company posted revenue of $743.7 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $772.4 million.
Mallinckrodt expects full-year earnings in the range of $8.50 to $8.70 per share.
The company’s shares closed at $3.87. A year ago, they were trading at $26.67.