Alkermes reports net income for Q3, provides guidance for 2013
Feb 04, 2013 (Datamonitor via COMTEX) --
Alkermes plc, a biopharmaceutical company, has reported that net income for the third quarter ended December 31, 2012 was $16.26 million, or $0.12 per diluted share, compared to a net loss of $14.83 million, or $0.11 loss per diluted share, for the same quarter ended December 31, 2011. The company expects GAAP net income to range from break-even to positive $15 million, or a basic and diluted EPS of approximately $0.00 to $0.11.
Total revenues for the third quarter of fiscal 2013 were $135.91 million, compared to $125.64 million for the same quarter of fiscal 2012.
Net income for the nine months ended December 31, 2012 was $21.98 million, or $0.16 per diluted share, compared to a net loss of $50.32 million, or $0.46 loss per diluted share, for the same period ended December 31, 2011.
Total revenues for the nine months ended December 31, 2012 were $412.13 million, compared to $259.50 million for the same period ended December 31, 2011.
The company expects total revenues to range from $520 million to $545 million, up from a range of $510 million to $540 million.
"This quarter demonstrates the strength of Alkermes' business model, which is characterized by two robust portfolios - our commercial products and our development pipeline. The quarterly financial results underscore our ability to hit financial goals while investing in a promising pipeline," commented Richard Pops, CEO of Alkermes. "As we move into 2013, we are excited by how our late-stage pipeline is taking shape, with interesting new medicines that have blockbuster potential and many important data readouts this year."
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