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News
Pfizer earnings rise
April 18, 2001: 6:49 a.m. ET

No. 1 U.S. drugmaker earns 33 cents a share, two cents above forecasts
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NEW YORK (CNNfn) - Pfizer Inc. Wednesday said first-quarter earnings excluding one-time items jumped 35 percent, topping Wall Street forecasts, boosted by strong sales of its Lipitor anti-cholesterol drug and Celebrex for arthritis.

The biggest U.S. drugmaker, which also makes the anti-impotence drug Viagra, said it earned $2.13 billion, or 33 cents a share, in the quarter excluding one-time items and merger-related costs, up from $1.58 billion, or 25 cents a share, a year earlier.

Wall Street analysts had forecast profits of 31 cents a share for the latest quarter.

Sales rose 7 percent to about $7.6 billion from $7.2 billion, Pfizer said in a statement.

The New York-based company also said it sees earnings growth of at least 10 percent this year and projected earnings of $1.56 a share or better for 2002. Analysts are forecasting profits of $1.59 on average for 2002, according to First Call, which tracks earnings forecasts on Wall Street.

Pfizer (PFE: Research, Estimates) stock rose $1.51 to $42.41 Tuesday.

-- from staff and wire reports  graphic




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