UPDATE: Endo Pharmaceuticals Reports Downbeat Q2 Profit, Lifts FY11 Forecast

Endo Pharmaceuticals Holding Inc ENDP reported weaker-than-expected second-quarter profit and lifted its full-year forecast. Endo Pharmaceuticals reported its quarterly net income at $54.6 million, or $0.44 per share, versus $51.5 million, or $0.44 per share, in the year-ago period. Excluding items, the company's earnings came in at $1.05 per share. Its revenue surged 53% to $607.6 million. However, analysts were expecting earnings of $1.06 per share on revenue of $596.3 million. Endo Pharmaceuticals now projects 2011 adjusted earnings of $4.55 to $4.65 per share, up from its previous forecast of $4.20 to $4.30 per share. It projects sales of $2.72 to $2.8 billion, versus its earlier outlook of $2.35 to $2.45 billion. Analysts are expecting adjusted earnings of $4.46 per share on revenue of $2.64 billion. Endo Pharmaceuticals shares closed at $31.58 yesterday.