Medicis Pharmaceutical raises full-year profit outlook

The company expects 2008 profit between $1.49 and $1.58 per share on revenue between $529 million and $538 million. In February, the company set full-year profit guidance between $1.43 and $1.56 per share on revenue between $528 million and $540 million. Analysts on average expect a profit of $1.51 per share on revenue $534.4 million.

During the second quarter, the company expects profit of 32 cents to 35 cents per share, with revenue between $132 million and $135 million. Analysts expect profit of 35 cents per share on revenue of $132.6 million.

During the third quarter, Medicis expects profit between 37 cents and 40 cents per share on revenue between $132 million and $135 million. Analysts expect profit of 39 cents per share on revenue of $133.7 million.

During the fourth quarter, the company expects to earn 42 cents to 45 cents per share on revenue between $134 million and $137 million. Analysts expect profit of 42 cents per share on revenue of $137.8 million.

Shares of Medicis Pharmaceutical rose 42 cents to close at $20.20.