Another earnings play KING.. THis one moves quickly after earnings. Last time I had it was mid December when it went from 15 to 30 in just 4 weeks, then again in Mid January for a position trade, This one should see more gains. History repeats itself quarter after quarter....http://www.techstocks.com/~wsapi/investor/reply?s=subject14123+king&sreply=7854943
King Pharmaceuticals Reports Strong First Quarter Earnings
BRISTOL, Tenn., April 26 /PRNewswire/ -- King Pharmaceuticals, Inc. (Nasdaq: KING - news) today announced that revenues totaled $60.0 million for the first quarter ending March 31, 1999, a 140% increase over the first quarter for last year. Excluding extraordinary financing charges, net income increased 54% to $6.7 million for the first quarter of 1999, up from $4.4 million in the same quarter of the prior year. Diluted earnings per share, absent extraordinary charges, was 21 cents for the first quarter of 1999, up from 16 cents for the first quarter of 1998, and exceeding the First Call consensus estimate of 18 cents.
King recorded an extraordinary charge related to the write-off of financing costs associated with the refinancing of certain existing indebtedness during March 1999. Including extraordinary charges, net income increased 47% to $6.0 million for the first quarter of 1999, up from $4.1 million in the same quarter of the prior year. Diluted earnings per share, including extraordinary charges, was 19 cents for the first quarter of 1999, up from 15 cents for the first quarter of 1998.
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