Forest Laboratories, Inc. (NYSE:FRX) released its earnings report for the three months ending June 30 this morning before the market opened on Wall Street. The company showed earnings of $0.28 per share on revenue of $796.9 million for the period. On Monday’s market shares in Forest Laboratories, Inc. (NYSE:FRX) closed at $43.75.
In the run up to the release of this earnings report analysts following Forest Laboratories, Inc. (NYSE:FRX) were looking for earnings of 9 cents per share from the company on revenue totaling $798.41 million. In the same three months of 2012, the company earned 28 cents per share on revenues of $821 million. Forest Laboratories, Inc. (NYSE:FRX) records the three months ending June 30 as its first fiscal quarter, meaning this morning’s announcement concerned the first quarter of the 2014 fiscal year.
Forest Laboratories share performance
Since 2013 began, shares in Forest Laboratories, Inc. (NYSE:FRX) have increased by more than 23 percent. The company managed to beat analysts expectations on earnings delivered in April, though it came in quite a bit below expectations in the quarter announced in January. Forest Labs results have been inconsistent in general. This morning’s massive beat is right there in the company’s wheel house.
In the last twelve months shares in Forest Laboratories have increased in value by just over 25 percent. The second half of 2012 was not a great period for Forest Labs. The company’s shares gained just over 1 percent in the period, lagging the wider market, though not by much. Analysts are looking for Forest Laboratories Inc. (NYSE:FRX) to leverage their new lines of products in order to grow earnings quickly in the years ahead.
According to analysts estimates, Forest Laboratories Inc. (NYSE:FRX) will earn 88 cents per share in its 2014 fiscal year, ending March 2015, and $1.54 per share in the year after. If the company can manage those growth levels shareholders will be rewarded handsomely for their investment in the pharmaceutical company.