Teva profits beat forecasts, reports 20% rise in net sales

By HILLEL KOREN/GLOBES
November 2, 2010 11:10

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) reported a 20% rise in third quarter net sales to $4.25 billion, compared with the corresponding period of 2009.

On a non-GAAP basis, net profit was $1.18 billion, or $1.30 in earnings per share (EPS). Net profit rose 47% compared with the corresponding quarter, and EPS rose 46%.Analysts had expected EPS of $1.27, on revenue of $4.37 billion.

On a GAAP (generally accepted accounting principles) basis, net profit rose 62% compared with the corresponding quarter to $1.1 billion, and EPS of $1.15 was 60% higher than the third quarter of 2009.


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