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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (3510)	11/1/2001 5:57:31 PM
From: Susan G	Respond to of 26752

They beat by a penny and it tanked like that? It must have been one heck of a warning...down over 16 pts and no sign of a bounce. Either that, or this market is finally tired of ignoring and rallying on bad news.

To: kendall harmon who wrote (3510)	11/1/2001 9:22:29 PM
From: Susan G	Respond to of 26752

NOVN took a big hit after the report tonight, yet briefing.com and their news releases speaks of raising full year upside guidance... May be an overreaction (they didn't read the release to the end <g>) and could be a nice bounce opportunity tomorrow. Noven Pharmaceuticals Inc. (NASDAQ:NOVN) fell to $17.75 from $22.25, its Nasdaq close, after it said earnings and revenues declined in the third quarter as international orders fell. The company makes patches that deliver drugs through the skin. Noven forecast a similar fourth quarter. from the news release: Financial Guidance "We expect 2001 fourth quarter revenues to be in line with the quarter that we just completed," said Strauss. "Fourth quarter diluted earnings per share should be in the $0.10 to $0.12 range. Pre-tax income for full year 2001 is expected to increase in the 40% range compared to 2000. We expect to earn $0.45 to $0.47 per share for full-year 2001, which represents an increase over our prior full year guidance of $0.40 to $0.45 per share. This increase is largely due to lower than planned expenses in the 2001 fourth quarter." Strauss continued: "As indicated, we have seen a significant decline in Estalis orders, and we expect that decline to continue at least through 2002. Estradot orders in 2002 are expected to be insufficient to offset Estalis declines. As a result, we expect our international sales to decline substantially in 2002 compared to 2001. Noven's target for 2002 calls for sales growth in Vivelle-Dot and CombiPatch sufficient to offset this international decline. If met, we would expect 2002 revenues to be comparable with 2001 full-year revenues, and 2002 diluted earnings per share to be in the $0.45 to $0.55 range." "For the balance of this year and into 2002, we will be working diligently to enhance U.S. growth, to accelerate launches abroad, to advance new products that we can market ourselves, and to resume our high growth rate. We are committed to success on each of these fronts."