Biogen Idec Reports $1.42 Adjusted EPS (BIIB)

Weston, Massachusetts-based Biogen Idec Inc. BIIB on Tuesday morning released financial results that beat Wall Street expectations. Biogen Idec Inc reported that its 4th quarter net income fell to $271.8 million, or 99 cents per share, down from $306.0 million, or $1.06 per share, a year earlier. Excluding special items, the company earned $1.42 per share. Biogen Idec Inc reported revenue of $1.22 billion, up 8% from $1.13 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.23 per share, on revenue of $1.17 billion. Biogen Idec Inc. (BIIB) ended the previous trading session at $65.47 per share. Analysts covering the company's stock have a consensus price target of $62.82 per share. Biogen Idec Inc uses cutting edge science to discover, develop, manufacture and market biological products for the treatment of serious diseases with a focus on neurological disorders. Read more from Benzinga's Company news.