NEW YORK (AP) — Eye-care products company Alcon Inc. on Thursday said its fourth-quarter earnings rose 8 percent on higher prescription product demand in the U.S. and higher sales to emerging markets.
Income grew to $458 million, or $1.51 per share, from $424 million, or $1.41 per share, in the year-ago quarter.
Excluding special items, adjusted earnings were $1.61 per share, beating analysts' consensus estimate of $1.51 per share, according to a poll conducted by Thomson Reuters.
Sales rose 14 percent to $1.72 billion from $1.5 billion. Excluding the impact of changing foreign exchange rates, sales rose 9 percent. Sales to emerging markets rose 19 percent.
Analysts expected revenue of $35.5 million.
For the full year, Alcon recorded profit of $2 billion, or $6.66 per share, compared with $2.05 billion, or $6.79 per share, in 2008. Revenue climbed to $6.5 billion from $6.29 billion.
Swiss pharmaceutical giant Novartis AG is trying to buy the 77 percent stake in Alcon it does not already own. On Jan. 20, Alcon directors called Novartis' $39 billion takeover bid "grossly inadequate."
U.S.-traded shares of Switzerland-based Alcon added $1.37 to close at $158.10.