LAKE FOREST, Ill. (AP) — Drug and medical device maker Hospira Inc. said Tuesday it posted a $214 million fourth-quarter loss, as the shutdown of one of its plants reduced its sales for the quarter.

But excluding one-time charges, the company's results beat Wall Street predictions and Hospira shares jumped $2.27, or 6.6 percent, to $36.49 in heavy midday trading, after peaking at $37.70 earlier in the day.

Hospira's loss amounted to $1.30 per share and compared with a profit of $60.6 million, or 36 cents per share, in the year-earlier period. Excluding one-time items, the company said it posted an adjusted profit of 51 cents per share for the recent quarter.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.