Roche (RHHBY) Profit Down on Site Closure Costs
7/26/2012 6:45:12 AM
Roche Holding AG (ROG)’s first-half profit sank 17 percent on costs to shut a U.S. research site and restructuring at two other units. Net income fell to 4.37 billion Swiss francs ($4.42 billion) from 5.26 billion francs a year earlier, the Basel, Switzerland-based company said in a statement today. Earnings per share excluding some items were 6.94 francs, compared with a 6.95-franc average estimate of 12 analysts surveyed by Bloomberg. Cancer drugs helped boost sales 3 percent to 22.4 billion francs, beating the 22 billion-franc average estimate.