Pfizer records strong earnings in Q4, beat estimates
New York, NY, United States (4E) – Pfizer Inc. announced a strong net profit in the fourth quarter as the pharmaceutical firm gained from lower acquisition charges and the pending sale of its nutrition business.
Last quarter, the company’s net earnings reached $6.32bn, or 85 cents a share, higher than the profit of $1.44bn, or 19 cents a share, in 2011, according to Pfizer.
Revenues for the quarter fell 7 per cent to $15.07bn, but that still beat analyst’s estimate of $14.37bn. The U.S. share in the revenue declined 9 per cent to $5.8bn, while sales overseas fell 5 per cent to $9.3bn.
Pfizer projected per-share earnings last year to range between $2.20 and $2.30 on $56.2bn to $58.2bn revenues. The company forecasts 2013 full-year revenue of $56.2bn to $58.2bn, while analysts call for $57.56bn.
Gains from the company’s sale of its nutrition business to Nestle for $11.85bn in November boosted fourth-quarter results by $4.8bn.
Revenues from the U.S. fell 9 per cent, driven by the loss of exclusivity of Lipitor and Geodon. Sales in the biopharmaceutical business fell 8.8 per cent, offsetting the strong performance in its animal-health and consumer health-care segments.