DUBLIN (AP) _ Perrigo Co. (PRGO) on Tuesday reported first-quarter profit of $38.1 million.
The Dublin-based company said it had profit of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The drug company posted revenue of $1.01 billion in the period, meeting Street forecasts.
Perrigo expects full-year earnings in the range of $2.50 to $2.70 per share.
Perrigo shares have fallen nearly 4% since the beginning of the year, while the S&P's 500 index has increased 12%. The stock has dropped 18% in the last 12 months.
The Associated Press