APPX will surge...
American Pharmaceutical Partners Raises 2002 Fourth Quarter and Full Year
Earnings Guidance
LOS ANGELES, Jan. 21 /PRNewswire-FirstCall/ -- American Pharmaceutical Partners, Inc. (Nasdaq: APPX), today announced that a preliminary review of fourth quarter and year end operating results indicate that estimated 2002 fourth quarter net earnings will be in the range of $0.33 to $0.37 per diluted share and full year earnings in a range of $0.86 to $0.90 per diluted share. These estimates exceed the Company's earlier estimate and the current FirstCall consensus earnings estimate of $0.21 per diluted share for the fourth quarter of 2002 and $0.73 per diluted share for the full year 2002. The Company attributed these results to strong demand for recently launched, higher margin products, combined with the leverage of fixed production and other costs over higher product volumes. APP's results remain subject to review by its outside independent auditors. The company plans to report its complete results for the 2002 fourth quarter and full year on February 26, 2003.
