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ICOS Corporation (ICOS) Provides Update to Earnings for Q4, 2006-07

December 14, 2006 8:51 AM EST
ICOS Hot Sheet
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ICOS Corporation (Nasdaq: ICOS) is providing preliminary financial estimates for the fourth quarter and full year 2006, a preliminary financial outlook for 2007 and a development update.

ICOS sees Q4 EPS between $0.26-0.34 and FY06 EPS between $0.49-0.57. Current Q4 EPS is $0.09 and FY06 EPS is $0.29.

ICOS estimates a range of 2007 net income and diluted earnings per share of $78 million-$94 million and $1.17 per share-$1.41 per share, respectively. Current FY07 EPS is $0.62.

In light of the pending merger with Lilly, ICOS believes it is important to update its shareholders on the expected financial performance of Lilly ICOS LLC and the company for the fourth quarter and full year 2006 and its preliminary outlook for Lilly ICOS LLC and the company for 2007.

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