Reuters: US Dollar Report: Mylan second quarter earnings rise, but foreign exchange drags

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Mylan second quarter earnings rise, but foreign exchange drags Aug 1st 2013, 12:04 Thu Aug 1, 2013 8:04am EDT Aug 1 (Reuters) - Generic drugmaker Mylan Inc said on Thursday that its second-quarter earnings rose, but forecast 2013 revenue would be at the low end of an expected $7 billion to $7.4 billion range because of the weakening of India's and Japan's currencies against the dollar. The company said that revenue in the second quarter was $1.7 billion, up from $1.69 billion a year earlier. That falls short of analyst expectations for revenue of $1.73 billion, according to Thomson Reuters I/B/E/S. The stronger U.S. dollar brought revenue down by about 1 percent, the company said. The company reported net income of $178 million, or 46 cents per share, up from $139 million, or 33 cents per share, a year earlier.

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