Omnicare Inc. (OCR) is up 6.83% to $27.68, despite swinging to Q4 loss after litigation settlement charge and other expenses slammed profits, although results excluding those items met market expectations.
The company reported a loss of $65.3 million, or 57 cents per share, compared with earnings of $79.8 million, or 68 cents per share, last year. Ex items, the company earned 51 cents per share, topping analysts' consensus by a penny, according to a FactSet poll. Revenue rose 1% to $1.56 billion from $1.54 billion, missing the Street's consensus call for $1.57 billion.
On the year, the company lost $106.1 million, or 91 cents per share, compared with earnings of $211.9 million, or $1.80 per share. Revenue fell to $6.15 billion from $6.17 billion.
The company is guiding for 2011 adjusted profit to range between $2.05 and $2.15 per share on revenue of $6 billion to $6.1 billion. Analysts are looking for $2.18 per share on revenue of $6.3 billion.