*DJ MedImmune Sees 2003 EPS 68c-76c; Had Seen 84c-89c
(MORE) Dow Jones Newswires
11-17-03 1931ET
*DJ MedImmune Sees 4Q Rev $385M-$445M; Had Seen $450M-$500M
(MORE) Dow Jones Newswires
11-17-03 1932ET
*DJ MedImmune Sees 4Q GAAP EPS 26c-34c, Had Seen 42c-47c
(MORE) Dow Jones Newswires
11-17-03 1932ET
DJ MedImmune Cuts Forecast-2: Evaluating Shortfall With Wyeth
GAITHERSBURG, Md. (Dow Jones)--MedImmune Inc. (MEDI) expects to miss its financial forecasts for the fourth quarter and full-year due to disappointing sales of FluMist, the influenza vaccine the company co-markets with Wyeth (WYE).
"I am disappointed to say that at this point, roughly half-way through the approximately twelve-week peak immunization season for FluMist, we have not seen the anticipated ramp up in demand," said Chief Executive David M. Mott in a press release Monday. "We are working with our partners at Wyeth to evaluate the reasons for the shortcomings and to develop our plan for the future.
MedImmune now expects full-year 2003 FluMist revenue of $55 million to $85 million, down from the company's previous target of $120 million to $140 million.
(MORE) Dow Jones Newswires
11-17-03 1955ET
DJ MedImmune Cuts Forecast -3: Street Sees 4Q EPS 46c >MEDI
For the fourth quarter, MedImmune has lowered its earnings target to 26 cents to 34 cents a share, compared with the previous target range of 42 cents to 47 cents. The company now expects earnings, before acquisition expenses, of 28 cents to 36 cents a share.
A Thomson First Call survey of 23 analysts puts fourth-quarter earnings at 46 cents a share, compared with 47 cents a share MedImmune earned a year ago, before items.
Total revenue is now slated at $385 million to $445 million, MedImmune said, down from $450 million to $500 million forecast earlier.
For the full year, MedImmune expects revenue of $1.04 billion to $1.1 billion, down from previously stated guidance of $1.1 billion to $1.15 billion.
Adjusted earnings per diluted share for 2003 are now expected to range from 72 cents to 80 cents a share, compared with prior guidance of 88 cents to 93 cents. Bottom-line earnings are now expected to be 68 cents to 76 cents a share, versus prior guidance of 84 cents to 89 cents.
Analysts are looking for 2003 earnings of 90 cents a share and revenue of $1.13 billion.
(MORE) Dow Jones Newswires
11-17-03 2001ET
DJ MedImmune Cuts Forecast-4: Synagis, Ethyol Sales On Track
MedImmune said FluMist revenues are "highly sensitive" to small changes in the number of doses sold by Wyeth and in the percentage of product that is ultimately returned by customers.
The company said the other components of its business, including Synagis and Ethyol sales, remain on track.
MedImmune plans to hold a conference call Tuesday at 8:00 a.m. EST.
Share recently changed hands at $23.80 in after-market trading, down from the close of $25.58 in the regular Nasdaq session.
-Pamela Tate; Dow Jones Newswires; 201-938-5400
(END) Dow Jones Newswires
11-17-03 2026ET
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