ARTICLE | Company News

Amgen sales and marketing update

October 25, 1993 7:00 AM UTC

Stronger sales, margin increases and tax law changes enabled AMGN to increase its EPS to 72 cents in the third quarter ended Sept. 30, from 60 cents in the period last year. Net income was $102.7 million on revenues of $354.9 million versus net of $88.9 million on revenues of $303.4 million in the 1992 year. The 1993 quarter included a one-time benefit of $9.6 million (7 cents) as a result of changes in federal tax laws.

Analyst Brandon Fradd of Montgomery Securities maintained his "buy" on the stock, citing improved margins. Excluding one-time benefits, Fradd said, AMGN's EPS of 65 cents outpaced his estimate of 62 cents. ...