Pfizer Q4 Profit Plunges; Guides 2014 - Quick Facts

(RTTNews) - Drugmaker Pfizer Inc. (PFE) Tuesday reported a sharp drop in fourth-quarter net income attributable to the company to $2.57 billion, or $0.39 per share, from $6.32 billion, or $0.85 per share, a year before. On an adjusted basis, earnings attributable to Pfizer amounted to $3.69 billion, or $0.56 per share in the recent period. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.52 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked quarterly reported revenues of $13.56 billion, down 2%, compared with $13.89 billion in the prior-year quarter. Fourteen analysts estimated revenues of $16.27 billion for the quarter.

As a result of the full disposition of Zoetis on June 24, 2013, the financial results of the Animal Health business are reported as a discontinued operation in the consolidated statements of income for 2013, and fourth-quarter and full year 2012, Pfizer noted.

Looking ahead, the company issued its 2014 guidance, including ranges for adjusted revenues of $49.2 billion - $51.2 billion, earnings per share of $1.57 - $1.72 on a reported basis, and $2.20 - $2.30 on an adjusted basis. Analysts project full-year 2014 earnings of $2.28 per share, and revenue of $49.74 billion.