Viropharma Inc & Arch Coal Slumped After Earnings (VPHM, ACI)
Viropharma Inc (NASDAQ:VPHM) shares slid in the pre-market session after the company posted a weaker-than-estimated first-quarter earnings, prompoting the company to lower its full year revenue outlook.
The companies now estimate to generate revenue in the range of $450 million to $500 million, from its previous forecast of $600 million to $660 million. Analysts are expecting $502.4 million.
The company earned $20.0 million, or 26 cents per share in the latest quarter, down from a year ago profit of $20.0 million, or 26 cents per share. On an adjusted basis, the company would have earned 31 cents a share, missing analysts’ forecast by 11 cents.
Quarterly revenue grew 7% year-over-year to $135.8 million, compared with analysts’ estimates of $148.8 million.
Shares of VPHM slumped 10.80% to $19.46 in the pre-market session.
Arch Coal Inc (NYSE:ACI) shares also fell after the company reported a steep decline in its first-quarter due to a slump in coal prices and weak demand from U.S. power companies. Moreover, the company reported a surprise adjusted loss.
The company earned $1.21 million or $0.01 per share, compared to a year ago profit of $55.6 million or $0.34 per share a year ago. Excluding various costs, the company would have lost 4 cents, compared analysts’ estimates of a profit of 16 cents a share.
Revenue during the quarter jumped 19% to $1.04 billion from $872.94 million in the prior-year quarter. Analysts expected revenues of $1.12 billion.
Further, the company said it would be reducing the quarterly dividend from $0.11 per share to $0.03 per share. The common stock dividend will be payable June 15, 2012 to shareholders of record on June 1, 2012.
Shares of ACI are down 4.71% to $9.30 in the pre-open session.