Teva Meets Estimates With $259 Million Profit

Teva Pharmaceutical Industries has reported a net profit for the first quarter of 2005 of $259 million, or $0.38 per share. This compares with a net loss of $428 million in the first quarter of 2004. That loss was mainly incurred because of costs related to the acquisition of Sicor. If the first quarter 2004 results are adjusted for these costs, the company made a net profit $205 million, or $0.31 per share. On this basis, the net profit for the first quarter of 2005 represents an increase of 26%, while EPS grew by 23%.

Globes [online] (http://www.globes.co.il/serveen/globes/docview.asp?did=910257&fid=942)