DUBLIN, Ireland - Elan Corp. plc, of Dublin, has announced fourth-quarter net income of US$72.7 million, or $0.52 per share, before one-time charges, compared to US$51.8 million, or $0.45 per share, in the three-month period ended Dec. 31, 1997.
For the full fiscal year, the company reported net income of $253.1 million and diluted earnings per share of $1.95 before one-time charges, compared to $175.1 million and $1.58 in fiscal 1997. Revenues increased from US$389.2 million in 1997 to US$676.7 million last year. The company incurred one-time charges of US$1.4 billion in fiscal 1998, principally associated with acquisitions. This resulted in a US$9.83 loss per share. Elan also has secured a revolving three-year credit facility that will allow up to US$325 million in borrowing. - Cormac Sheridan