In Allergan’s latest financial report, the leading manufacturer of Botox registered lower fourth quarter earnings. The company said that it made $151 million, which was $9 million less than its earnings a year earlier.

On a lighter note, the declared earnings defeated Wall Street forecasts, which predicted that the company would see fewer earnings.

“All in all, the fourth quarter is a testament to management for properly setting very conservative guidance in an incredibly challenging environment,” Oppenheimer analyst Amit Hazan added on a research note.

To curtail the effects of the recession, Allergan announced that it would lay-off 460 employees, primarily in the US and in Europe. The company is anticipating restructuring charges that will cost an estimated $110 million to $117 million through 2009.

 
Although most analysts doubt it, Allegan is expecting positive growth prospects for 2009. In fact, the profit forecast reflects a 5-7 percent increase compared to 2008.