By Ben Fox Rubin
Zoetis Inc. (ZTS) swung to a fourth-quarter profit, as the
animal-medicine maker increased U.S. sales and posted higher
revenue in both its livestock and companion animals businesses.
For the new year, the company forecast earnings of $1.48-$1.54 a
share on $4.65 billion- $4.75 billion in revenue. Analysts polled
by Thomson Reuters expected a forecast of $1.62 a share in earnings
and $4.77 billion of revenue.
Zoetis, which was carved into a stand-alone company by drug
maker Pfizer Inc. (PFE) last year, is the largest animal-medicine
company in the world by revenue. It makes vaccines and drugs for
livestock such as cattle and swine, as well as for pets.
For the fourth quarter, the company reported profit of $105
million, or 21 cents a share, versus a year-earlier loss of $10
million, or two cents a share. Excluding purchase accounting
adjustments, acquisition-related costs and other items, earnings
were 36 cents in the latest reporting period. Revenue grew 6.6% to
$1.25 billion.
Analysts had expected per-share earnings of 34 cents and revenue
of $1.21 billion.
The company's livestock revenue rose 7% to $849 million in the
fourth quarter, helped by increases in swine- and poultry-drug
revenue. Companion animal revenue grew 5% to $405 million, with
revenue from drugs for dogs and cats offsetting a decline in horse
drug sales.
Revenue in the U.S., its largest geographic area by sales, grew
7% to $516 million.
Write to Ben Fox Rubin at ben.rubin@wsj.com
Order free Annual Report for Pfizer Inc.
Visit http://djnweurope.ar.wilink.com/?ticker=US7170811035 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires