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Mylan Laboratories Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: October 25, 2012 04:34PM

Mylan Laboratories Inc. (MYL) filed Quarterly Report for the period ended 2012-09-30. Mylan Inc. has a market cap of $9.6 billion; its shares were traded at around $25 with a P/E ratio of 10.8 and P/S ratio of 1.6. Mylan Inc. had an annual average earning growth of 29.3% over the past 10 years. GuruFocus rated Mylan Inc. the business predictability rank of 2-star.



Highlight of Business Operations:

For the three months ended September 30, 2012, Mylan reported total revenues of $1.81 billion compared to $1.58 billion for the three months ended September 30, 2011. This represents an increase in revenues of $234.0 million, or 14.8%. Consolidated gross profit for the current quarter was $788.5 million, compared to $658.4 million in the comparable prior year period, an increase of $130.1 million, or 19.8%. For the current quarter, earnings from operations were $329.9 million, compared to $265.9 million for the three months ended September 30, 2011, an increase of $64.0 million, or 24.1%.

For the nine months ended September 30, 2012, Mylan reported total revenues of $5.09 billion compared to $4.60 billion for the nine months ended September 30, 2011. This represents an increase in revenues of $495.1 million, or 10.8%. Consolidated gross profit for the nine months ended September 30, 2012 was $2.15 billion, compared to $1.92 billion in the same prior year period, representing an increase of $235.2 million, or 12.3%. For the nine months ended September 30, 2012, earnings from operations were $834.1 million, compared to $758.1 million for the nine months ended September 30, 2011, an increase of $76.0 million, or 10.0%.

For the nine months ended September 30, 2012, Mylan reported total revenues of $5.09 billion compared to $4.60 billion in the comparable prior year period. Total revenues include both net revenues and other revenues from third parties. Third party net revenues for the current period were $5.04 billion compared to $4.58 billion for the same prior year period, representing an increase of $461.7 million, or 10.1%. Other third party revenues for the current period were $52.8 million compared to $19.4 million in the same prior year period, an increase of $33.4 million. Other revenues for the nine months ended September 30, 2012 include $20.4 million of revenue related to our clean energy investment subsidiary.

Net earnings attributable to Mylan Inc. increased $54.6 million, or 34.8%, to $211.3 million for the three months ended September 30, 2012 as compared to $156.7 million for the prior year comparable period. Diluted earnings per common share attributable to Mylan Inc. increased from $0.36 to $0.51 for the three months ended September 30, 2012 compared to the prior year comparable period. Adjusted earnings increased $103.5 million, or 43.5%, to $341.3 million for the three months ended September 30, 2012 as compared to adjusted earnings of $237.8 million for the prior year comparable period. Adjusted diluted earnings per common share attributable to Mylan Inc. increased from $0.55 to $0.83 for the three months ended September 30, 2012 compared to the prior year comparable period.

Net earnings attributable to Mylan Inc. increased $71.6 million, or 17.6%, to $478.9 million for the nine months ended September 30, 2012 as compared to $407.3 million for the prior year comparable period. Diluted earnings per common share attributable to Mylan Inc. increased from $0.92 to $1.13 for the nine months ended September 30, 2012 compared to the prior year comparable period. Adjusted earnings increased $153.1 million, or 23.0%, to $819.8 million for the nine months ended September 30, 2012 as compared to adjusted earnings of $666.7 million for the prior year comparable period. Adjusted diluted earnings per common share attributable to Mylan Inc. increased from $1.51 to $1.94 for the nine months ended September 30, 2012 compared to the prior year comparable period.

Read the The complete Report



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