Mylan (NASDAQ: MYL) Reports a Beat, Reaffirms 2010 Guidance Inline

2/25/2010-Mylan (NASDAQ:MYL) reported Q4 EPS of $0.33, besting consensus estimates of $0.30.

Revenues for the quarter rose 12.2% year-over-year to $1.35 billion, topping consensus estimates of $1.25 billion.

The company reaffirmed its 2010 EPS guidance of $1.50 to $1.70, versus consensus estimates of $1.54.

Mylan's Chairman and CEO Robert J. Coury commented: "I'm pleased to report very strong fourth quarter results capping off another extremely successful year, our second full year of operating the New Mylan. With that said, we are reaffirming our 2010 guidance of $1.50 to $1.70, which I fully expect will translate into an industry-leading EPS growth rate over the 2008 to 2010 period. I anticipate that this strong growth will continue, and we are projecting revenues in excess of $8.5 billion in 2013, representing a top-line CAGR of 15%, from 2010. We are also projecting EPS in excess of $2.75 in 2013, which represents a CAGR of 20%. Additionally, I fully expect we will be able to deliver EPS in excess of $2 in 2011. We also anticipate generating cumulative operating cash flows of approximately $4 billion by the end of 2013. With that said, we expect to continue to lead the sector in EPS growth, which we believe will benefit all shareholders and other stakeholders."

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