MDCO - Medicines Co Q1 profit beats estimates
I'm watching for a reversal off support back to $8 after trading down in in ydays bad feta and olives selloff.
9:00 am ET 04/28/2010- Reuters
* Q1 EPS 18 cents vs est 16 cents
* Q1 revenue $102.1 mln vs est $110.3 mln
April 28 (Reuters) - Medicines Co <MDCO.O> posted a better-than-expected quarterly profit helped by lower operating expense.
First-quarter net income was $9.4 million, or 18 cents a share, compared with a net loss of $3.3 million, or 6 cents a share in the year-ago period. <ReutersLink ID='ID:nWNAB3106' />
Excluding special items, the company earned 24 cents a share.
Revenue rose 3 percent to $102.1 million.
Total operating expense fell 14 percent, with research and development expense decreasing 31 percent.
Analysts were expecting earnings of 16 cents a share, on revenue of $110.3 million, according to Thomson Reuters I/B/E/S.
U.S. sales of the company's anti-clotting drug Angiomax stayed almost flat, but international revenue from the drug rose 75 percent to $5.6 million.
Shares of the company closed at $7.65 Tuesday on Nasdaq.
