UPDATE 2-King profit dips, but results top estimates

By : * Q2 EPS ex items of 32 cents vs 26-cent view
Date posted :2009-08-06 08:01:00

* Q2 revenue rises 12 percent

* Shares rise 3.7 percent (Adds details from results, shares)

NEW YORK, Aug 6 (Reuters) - King Pharmaceuticals Inc (KG.N) posted a better-than-expected quarterly profit on Thursday, helped by strong revenue and cost savings from its Alpharma acquisition, and shares rose 3.7 percent.

Net income fell to $37.9 million, or 15 cents per share, from $40.8 million, or 17 cents per share, a year ago.

Excluding special items, earnings of 32 cents per share were 6 cents ahead of the average estimate of analysts, according to Reuters Estimates

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