Aug 2 (Reuters) - Paladin Labs Inc reported a lower second-quarter profit, hurt by higher costs, but the Canadian specialty pharmaceuticals company raised its revenue outlook for the year.
The company said it now expects 2012 revenue in excess of C$200 million ($199.81 million).
Net income fell to C$10.9 million, or 52 Canadian cents per share, for the April-June quarter, from C$16.8 million, or 80 Canadian cents per share, a year earlier.
Revenue rose 3 percent to C$37.1 million. Selling, general and administrative costs rose 11 percent to C$9.1 million.
Shares of the company, which has a market value of $1.01 billion, closed at C$49.70 on Wednesday on the Toronto Stock Exchange.