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implants, obesity treatment

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Investorman Member Level  Thursday, 07/28/05 12:57:23 PM
Re: DewDiligence post# 110
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implants, obesity treatment
Wed Jul 27, 2005 05:13 PM ET

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CHICAGO, July 27 (Reuters) - Inamed Corp. (IMDC.O: Quote, Profile, Research) on Wednesday said its quarterly earnings rose on strong sales of its breast implants and obesity treatments.

Second-quarter net earnings rose to $20.6 million, or 56 cents a share, from $9.8 million, or 27 cents a share, a year ago.

Excluding one-time items related to its pending merger with Medicis Pharmaceutical Corp. (MRX.N: Quote, Profile, Research) , Inamed earned 58 cents a share. Analysts on average had expected the Santa Barbara, California-based company to earn 57 cents a share, according to Reuters Estimates.

Quarterly sales rose 15 percent to $114.6 million over the year-ago period, with sales of breast implants up 13 percent and obesity intervention products up 41 percent over a year ago.

Inamed shares gained 75 cents to close at $71.69, just off its peak at $72.50 set on Feb. 15, 2005, on the Nasdaq.

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