August 7, 2008
Kenosha News
Hospira Inc., which makes drug delivery systems and devices, said Wednesday its secondquarter profit more than doubled on higher sales and a dip in expenses, but the results still fell short of Wall Street forecasts.
For the three months ended June 30, the company earned $69.1 million, or 43 cents per share, compared with profit of $30.7 million, or 20 cents per share, in the year-ago period. Revenue rose 3.7 percent to $901.6 million from $869.3 million.
On an adjusted basis, excluding acquisition-related costs and other onetime items, the company earned 57 cents per share.
The company’s sales costs fell 5 percent to $572.2 million, pushing gross profit up 24 percent.
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