Amgen Q4 Results Top Estimates

(RTTNews) - Amgen Inc. (AMGN) reported net income for the fourth quarter of $1.02 billion or $1.33 per share, compared to $788 million or $1.01 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $1.39 billion or $1.82 per share, compared to $1.09 billion or $1.40 per share in the prior year quarter.

Total revenues for the fourth quarter rose 13% to $5.01 billion from $4.42 billion in the same quarter last year, with product sales up11%.

Analysts polled by Thomson Reuters expected the company to earn $1.68 per share on revenue of $4.82 billion for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the full year 2014, the company forecasts total revenues of $19.2 billion to $19.6 billion and adjusted earnings of $7.90 to $8.20 per share. Analysts currently expect the company to earn $8.18 per share on revenue of $19.58 billion for the full year 2014.