Champs & Chumps ..........Stock Market Winners & Losers

Tuesday, November 07, 2006

Omrix Biopharmaceuticals Inc. said Tuesday it swung to a third-quarter profit as revenue more than doubled because biosurgery and antibody product sales soared.

The company, which makes products used in surgery and immunotherapy, earned $8.1 million, or 53 cents per share, compared with a loss of $321,000, or 3 cents per share, a year ago. Analysts polled by Thomson Financial expected a profit of 33 cents per share.

Revenue surged 137 percent to $18.3 million from $7.7 million. Analysts expected revenue of $16.4 million.

The bulk of the increase came from $13.8 million in antibody products, which include intravenous treatments, and $3.5 million from biosurgery products.

During the remainder of the year, the company said it expects to complete enrollment in a late-stage clinical trial of its fibrin sealant Evicel and to complete enrollment of its early-to-midstage study on a West Nile fever treatment.

Omrix said it expects full-year earnings to range from $1.40 to $1.45 a share on product sales revenue of between $54 million and $55 million. The figures mark an increase from previous guidance calling for profit of between $1.15 and $1.20 per share on revenue of between $50 million and $51.5 million.

Analysts previously forecast profit of $1.20 per share on revenue of $59.7 million

Shares of Omrix rose $1.84, or 9.3 percent, to $21.50 in premarket trading on the INET electronic exchange. The stock had closed at $19.66 Monday.


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