Good morning, all. Found this on the DJ News Wire:
Symbol(s) IVX & Date
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10/12 10:20A (DJ) =Prices Seen Driving Higher Profits At Most Generic-Drug Cos
Earnings at Ivax Corp. (IVX) are also on the upswing, industry observers
said. The third quarter will mark the first time in several years that the
Miami company has posted sequential quarters of profitability, said HKS & Co.
analyst Hemant Shah.
"There's no question that Ivax is turning around,"he said.
The company, which recently underwent a major restructuring, is back to
focusing on its core businesses, a move that is shaving costs and positioning
it to garner the highest possible margins, Shah said.
Analysts surveyed by First Call expect Ivax will earn 5 cents a share in the
quarter, compared with a loss from continuing operations of 65 cents a year
earlier. The year-ago figure includes a 4-cent restructuring charge.
Best, Joe
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