Shire revenues up for the second quarter at $439.1 million

By Lisa Kerner

Charlotte, N.C., July 28 - Shire plc's total revenues for the second-quarter 2006 of $439.1 million were up slightly from the prior-year period's reported $424.6 million.

Operating income for the quarter fell to $82.2 million from $134.1 million in the year-ago period.

The company reported second-quarter GAAP net income of $61.3 million, or $0.12 per share, down from $109.9 million, or $0.22 per share, in the second-quarter 2005.

For the six-month period ended June 30, the company had total revenues of $850.1 million, up from $758.3 million for the prior-year period.

Operating income for the first half of the year was down at $96.6 million from $142.4 for the six-month period ended June 30, 2005.

Shire reported net income for the period of $122.4 million, a slight decrease from $125.3 million for the same period in 2005.

"We reiterate our previously stated guidance of revenue growth for 2006 to be in the low double-digit range and costs to be within the previously indicated ranges," chief executive officer Matthew Emmens said in a company news release.

Highlights for the quarter include positive feedback from the newly launched Daytrana patch for attention deficit hyperactivity disorder and Food and Drug Administration approval for the genetics therapy Lipase.

Moving forward, Shire said it expects decisions from the FDA for NRP104 and Mesa Vance as well as a possible settlement of the Adder all XR litigations with Barr Laboratories Inc., officials said.

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