BERLIN (dpa-AFX) - German drug manufacturer Merck KGaA (MKGAY.PK) reported Wednesday that its second-quarter net loss attributable to the company was 85.9 million euros or 0.40 euros per share, compared to prior year's profit of 183.4 million euros or 0.84 euros per share.
Core earnings per share, which excluded certain one-time items, declined 39.7 percent to 0.94 euros from 1.56 euros last year.
Total revenues increased 15.7 percent to 2.56 billion euros from 2.21 billion euros a year ago.
For the quarter, core operating result declined from last year, while underlying core operating result grew to 548 million euros from 501 million euros in 2010.
Looking ahead for fiscal 2011, the company now projects total revenues will increase to between 10 billion euros and 10.4 billion euros. The Group operating result for 2011 is expected to amount to about 1 billion euros, which is below the guidance given in April primarily due to the many one-time adjustments.
The company's previous forecast for total revenues was a growth of 10 to 15 percent.
Copyright RTT News/dpa-AFX