|
|
|
|
|
|
StockCentral :: Community
|
|
Join in on the discussion with other like-minded investors in our community forums. Learn about the fundamental investing methodology and participate in educational workshops in the Investing forums, stay up-to-date on StockCentral news and make suggestions to the StockCentral team in Central Square, and discuss your favorite stock or recent market news in our A-Z ticker-based forums.
|
| Note: You must be a StockCentral subscriber and logged in to post messages. |
|
|
| Author |
Messages |
|
Joe Craig
Ellicott City, MD
StockCentral Administrator
 |
| 10/27/2007 12:05 PM |
|
The earnings of Amgen (AMGN) 57.18 dropped sharply during the third quarter. The primary reason was a write-off of in process R&D of $590 million from the acquisition of Alantos and Ilypsas. Also, there were restructuring activities.
Sales of its anemic treatment Aranesp and Epogen, suffered after studies earlier this year indicated the drugs are over used and linked to an increased risk of stroke and heart attack.
The write-off of In Process R&D is a non-cash accounting transaction and should not be considered as representative of operations. On that basis EPS grew 15.5%, but sales were flat, pre tax profits declining 17.0% as profit margins dropped from 37.7% to 31.3%.
Analysts estimate EPS for 2008 to be $4.36. At the recent price of 57.18 the RV is 55.3 and the stock is a buy. I and my investment club own share of AMGN. No sales are contemplated. |
|
Joe |
|
|
|
| Note: You must be a StockCentral subscriber and logged in to post messages. |
|
|
|
ActiveForums 3.7
|
|