NEW YORK CITY (dpa-AFX) - Biopharmaceutical company Bristol-Myers Squibb Co. (BMY) reported Thursday that its second-quarter net earnings attributable to the company was $333 million, compared to $536 million a year ago. Earnings per share plunged 38 percent to $0.20 from $0.32 last year.
Adjusted net earnings attributable to Bristol-Myers Squibb, which excluded certain items, was $798 million or $0.48 per share, compared to $730 million, or $0.44 per share, for the same period in 2013.
On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter declined 4 percent to $3.89 billion from $4.05 billion in the prior year. Excluding the divested Diabetes Alliance, global revenues increased 7 percent. Analysts expected revenues of $3.85 billion.
The results were highlighted by strong global sales for the company's key brands, and the achievement of important regulatory milestones for key brands in Japan, Europe and the U.S, the company said.
Looking ahead, Bristol-Myers trimmed its fiscal 2014 reported earnings per share guidance to $1.50-$1.60 from $1.70-$1.80, as a result of impairment and expected additional restructuring charges. The company confirmed adjusted earnings per share guidance range of $1.70-$1.80. Analysts expect earnings of $1.77 per share for the year.
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