Chiron misses Street

CHIR reported first quarter 2005 pro forma EPS from continuing operations of $0.04, missing the Street's consensus estimate by $0.13 and down 82% from $0.22 in the first quarter of 2004. This quarter's figure includes $39 million in costs associated with the October 2004 suspension of CHIR's license to manufacture Fluvirin influenza vaccine. The suspension was lifted in March.

First quarter sales came in at $277 million, down 1% from $281 million in the first quarter of 2004. Influenza vaccine sales were $4 million, down 54% from $8 million the first quarter last year. The decrease reflects the loss of all revenue from Fluvirin, which had $2 million in sales in the same period last year. Blood testing revenues came in at $134 million, up 14% from $117 million in the same period in 2004. ...