Earnings roundup: Phoenix, AMAG Pharmaceuticals
By
Associated Press
February 27, 2009
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Among the earnings stories for Friday, Feb. 27, from AP Financial News:
HARTFORD, Conn. (AP) _ Phoenix Cos. reported a fourth-quarter loss of $424.3 million on Friday partly due to a hefty goodwill impairment charge, and said it will cut about 250 jobs or 25 percent of its work force in the next two to six months as it looks to reduce costs by about $65 million.
CAMBRIDGE, Mass. (AP) _ Biotechnology company AMAG Pharmaceuticals Inc. said Friday that its fourth-quarter loss widened on higher costs as the company set up operations for the eventual marketing of its anemia drug Feraheme.
CHADDS FORD, Pa. (AP) _ Endo Pharmaceuticals Holdings Inc. said Friday its profit surged 48 percent in the fourth quarter due to growing sales of its pain drugs Opana and Opana ER.
NEW YORK (AP) _ CommScope Inc. shares plummeted Friday after the network infrastructure maker's fourth-quarter revenue missed analyst views and it also predicted first-quarter revenue far below Wall Street expectations.
PITTSBURGH (AP) _ Calgon Carbon Corp., which makes water and air purifying systems, said on Friday its fourth-quarter profit more than doubled on higher margins and expense controls.
WINCHESTER, Va. (AP) _ Decking and fencing maker Trex Co. said Friday it posted a narrower loss in the fourth quarter due to lower charges during the period, but the results missed Wall Street's expectations.