NEW YORK (Reuters) - Bristol-Myers Squibb Co on Tuesday reported a higher-than-expected fourth-quarter profit on strong sales of its schizophrenia and blood-clot medicines and improved profit margins.
The New York-based drugmaker said it earned $1.24 billion, or 63 cents per share. That compared with a loss of $89 million, or 5 cents per share, in the year-ago period, when it took a big charge for soured investments.
Excluding special items, Bristol-Myers earned 46 cents per share. Analysts on average expected 40 cents per share, according to Reuters Estimates.
Company revenue of $5.25 billion was a bit lower than the Reuters Estimates forecast of $5.42 billion.
The New York-based drugmaker forecast full-year 2009 earnings per share of $1.85 to $2.00, excluding special items. Most of that range is below the Reuters Estimates forecast is $1.96.
The forecast represents profit growth of 6.3 percent to 15 percent from last year's results.
(Reporting by Ransdell Pierson, editing by Maureen Bavdek)