Amgen’s (AMGN) Modest Quarter

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By Douglas A. McIntyre Published
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Amgen (AMGN) adjusted earnings per share of $1.12 for the first quarter of 2008, an increase of 4 % compared to $1.08 for the first quarter of 2007. Adjusted net income decreased 4 % to $1.218 billion in the first quarter of 2008 compared to $1.270 billion in the first quarter of 2007.

Amgen’s revenue decreased 2% during the first quarter of 2008 to $3,613 million versus $3,687 million in the first quarter of 2007.

Worldwide sales of Aranesp decreased 25% to $761 million in the first quarter of 2008. Sales of EPOGEN decreased 11% to $554 million.

Sales of Enbrel increased 30% in the first quarter to $951 million. Worldwide sales of Sensipar increased 27 % to $133 million.

The company guided for GAAP EPS for the year to be in a range of $3.66 to $4.01.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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