Mylan: 2Q Earnings Snapshot

HATFIELD, Britain (AP) _ Mylan Inc. (MYL) on Wednesday reported second-quarter net income of $37.5 million.

The Hatfield, Britain-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, were $1.07 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.

The generic drugmaker posted revenue of $2.81 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.96 billion.

Mylan expects full-year earnings in the range of $4.55 to $4.90 per share, with revenue in the range of $11.25 billion to $12.25 billion.

Mylan shares have declined roughly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 7 percent. The stock has risen 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYL at https://www.zacks.com/ap/MYL