Zoetis Posts Profit In Q4, Results Beat View; Sees 2014 Earnings Below Estimates

(RTTNews) - Zoetis Inc. (ZTS), the former animal health business of Pfizer Inc. (PFE), reported fourth-quarter net income attributable to the company of $105 million or $0.21 per share, compared to net loss of $10 million or $0.02 per share in the year-ago period.

On an adjusted basis, earnings for the recent quarter were $0.36 per share, compared to $0.11 per share in the prior-year quarter. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted net income excludes the net impact of $75 million, or $0.15 per share, for purchase accounting adjustments, acquisition-related costs and certain significant items.

Revenues for the quarter grew 7 percent to $1.25 billion from $1.18 billion in the year-ago period. Analysts had a consensus revenue estimate of $1.21 billion for the quarter.

For fiscal 2014, Zoetis forecasts reported earnings of $1.15 to $1.21 per share, adjusted earnings between $1.48 and $1.54 per share, and revenue in a range of $4.65 billion to $4.75 billion. Street expects the company to earn $1.62 per share for the year on revenues of $4.77 billion.