July 28, 2009 / 12:19 PM / in 8 years

UPDATE 1-QLT posts profit, boosts outlook

* EPS $0.16 vs year-ago share loss $0.10

* Revenue rises 7.8 pct to $33 million

* Raises Eligard sales range to $240-$255 mln (Adds details. In U.S. dollars)

TORONTO, July 28 (Reuters) - QLT Inc QLT.TO reported a second-quarter profit on Tuesday, helped in part by higher sales of its Eligard prostate cancer treatment, and the company raised its full-year outlook for the key drug.

Vancouver, British Columbia-based QLT said it had earned $8.6 million, or 16 cents a share, compared with a year-earlier loss of $7.4 million, or 10 cents a share.

Revenue rose 7.8 percent to $33 million due to the 32.2 percent increase in Eligard sales to $21.9 million.

The company boosted its full-year sales outlook for Eligard to between $240 million and $255 million, up from its previous range of $220 million to $240 million.

QLT also increased its outlook for adjusted earnings before interest, taxes, depreciation and amortization to between $15 million and $20 million for the year. Its original outlook was $10 million to $15 million. ($1=$1.08 Canadian) (Reporting by Scott Anderson; Editing by Lisa Von Ahn)

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