Elan reports earnings

ELN reported a loss per share of $0.28 in the third quarter, compared with a loss per share of $0.26 in the 2003 period. The Street was expecting a loss per share of $0.27. ELN's third quarter net loss was $107.8 million compared with $91 million in the 2003 period.

Third quarter revenues were down 23% quarter over quarter to $101.1 million from $131.2 million. However, revenue from products that ELN retained during its restructuring were up 5% to $73.2 million from $69.8 million. ELN said it hopes to return to profitability in the 2006 "timeframe." On Thursday, ELN was off $0.43 to $26.10. ...