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Alpharma Q4 net rises 78 pct; sees 25 pct EPS growth in '01

NEW YORK, Feb 26 (Reuters) - Alpharma Inc. (NYSE:ALO - news), a maker of pharmaceutical products for humans and animals, on Monday reported a 78 percent rise in fourth-quarter profits and said it is comfortable with its previous guidance of 25 percent earnings per share growth in 2001.

The Fort Lee, N.J.-based firm posted net income of $21.4 million, or 48 cents per share, compared with net income of $12 million, or 38 cents per share a year ago.

Alpharma said it expects lower prices in the United Kingdom in the first half of 2001 to contribute to slower earnings growth in the first half of the year, with EPS growing by 5 percent more each quarter.

As a result of the pricing issues and a more favorable poultry and livestock projected for the second half of the year, Alpharma said it expects EPS to grow by 15 percent in the first quarter, 20 percent in the second quarter, 25 percent in the third quarter and 30 percent in the fourth quarter, resulting in full-year earnings per share growth of 25 percent.

Revenues for the fourth quarter of 2000 rose nearly 20 percent to $256.7 million from $214.5 million a year ago.