Medicis Pharmaceutical (MRX)

[Investorman]

Medicis posts higher second-quarter earnings
January 22, 2003 4:25:00 PM ET


SCOTTSDALE, Ariz., Jan 22 (Reuters) - Medicis Pharmaceutical Corp. (MRX) on Wednesday reported higher quarterly earnings due to strong prescription growth in the company's key dermatology medicines.

Scottsdale, Arizona-based Medicis reported income of $15.3 million, or 55 cents per share, for its fiscal second quarter, compared with $14.8 million, or 47 cents a share excluding a charge a year ago.

That exceeded expectations of Wall Street analysts who, on average, were looking for 54 cents per share, according to a survey by Thomson First Call.

Medicis said revenue for the quarter ended Dec. 31 was $59.5 million, compared to the $53 million it reported in the same period a year ago.

Medicis boosted its outlook for 2003 revenues to $245 million, up from a previous guidance of $244 million.

It also hiked its prediction for full year 2003 earnings-per-share to $2.27, compared to a $2.26 prior outlook. (Reporting by Bill Berkrot and Kim Dixon, New York Health Desk; Reuters Messaging: [e-mail]. phone [phone]) REUTERS