Mead Johnson Nutrition Q3 Results Down, Expects FY15 Earnings Below Street View

(RTTNews) - Mead Johnson Nutrition Co. (MJN) Thursday announced third quarter net income attributable to shareholders of $1.55.2 million, down from $187.6 million a year ago. Earnings per share also declined to $0.77 from $0.92 a year ago. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.84 per share. Analysts estimates usually exclude special items.

Net sales for the quarter was down at $977.5 million compared to $1.090 billion in the previous year. Wall Street expected $1.02 billion.

Looking ahead the full year, the company expects earnings per share in a range of $3.15 to $3.25, and adjusted earnings per share in the range of $3.33 to $3.43. The Street is looking for $3.59 per share on revenue of $4.20 billion.

Full year revenue is expected to be down 2 to 3 percent from the prior year on constant dollar.