The Medicines Company Reports Second Quarter and First Half 2012 Financial Results
Quarterly Net Revenues Rise 13.5% to $135.7 Million
(firmenpresse) - PARSIPPANY, NJ -- (Marketwire) -- 07/25/12 -- The Medicines Company (NASDAQ: MDCO), a global pharmaceutical company focused on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines, today announced second quarter and first half financial results for 2012.
Net revenue increased by 13.5% to $135.7 million for the second quarter of 2012 from $119.6 million in the second quarter of 2011.
Angiomax U.S. sales increased by 8.2% to $121.2 million in the second quarter of 2012 compared to $112.0 million in the second quarter of 2011.
Angiomax/Angiox international net revenue in the second quarter of 2012 increased by 63.6% to $11.9 million compared with $7.3 million in the second quarter of 2011.
Net income for the second quarter of 2012 was $13.8 million, or $0.25 per share, compared with net income of $11.4 million, or $0.21 per share, for the second quarter of 2011.
Non-GAAP net income for the second quarter of 2012 was $25.7 million, or $0.46 per share, compared to non-GAAP net income of $13.2 million, or $0.24 per share for the second quarter 2011. Non-GAAP net income excludes stock-based compensation expense, non-cash interest expense and non-cash income taxes.
Net revenue increased by 13.2% to $262.3 million for the first half of 2012 from $231.7 million in the first half of 2011.
Angiomax U.S. sales increased by 9.1% to $236.7 million in the first half of 2012 compared with $217.0 million in the first half of 2011.
Angiomax/Angiox international net revenue in the first half of 2012 increased by 56.2% to $22.6 million compared with $14.4 million in the first half of 2011.
Net income for the first half of 2012 was $21.3 million, or $0.38 per share, compared with net income of $35.7 million, or $0.66 per share, for the first half of 2011.
Non-GAAP net income for the first half of 2012 was $40.9 million, or $0.74 per share, compared with non-GAAP net income of $47.7 million, or $0.88 per share for the first half of 2011. Non-GAAP net income excludes stock-based compensation expense, non-cash interest expense and non-cash income taxes.
Glenn Sblendorio, President and Chief Financial Officer, stated, "For the first half of 2012, revenue growth has been robust with Europe a particular bright spot -- while we have kept worldwide SG&A costs stable. Since 2010, we have been realizing the operating leverage we anticipated. Our R&D projects are moving forward aggressively to drive toward answers on our critical Phase 3 trials of oritavancin and cangrelor."
The following table provides reconciliations between GAAP and non-GAAP net income for the second quarter (Q2) and first half (1H) of 2012 and 2011. Non-GAAP net income excludes the transaction charges related to stock-based compensation expense, non-cash interest expense and non-cash income taxes:
Reconciliations between GAAP and non-GAAP fully diluted earnings per share (EPS) for Q2 and 1H of 2012 and 2011 are provided in the following table:
The Company believes that presenting the non-GAAP information contained in the financial tables and in this press release assists investors and others in gaining a better understanding of the Company's core operating results and future prospects, expected growth rates or forecasted guidance, particularly as related to stock-based compensation expense and non-cash income taxes. Management uses this non-GAAP information, in addition to the GAAP information, as the basis for measuring the Company's core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. Such measures are also used by management in its financial and operating decision-making. Non-GAAP information is not meant to be considered superior to or a substitute for the Company's results of operations prepared in accordance with GAAP. A reconciliation of GAAP results with non-GAAP results may also be found in the attached financial tables.
There will be a conference call with management today at 8:30 a.m. Eastern Time to discuss second quarter 2012 financial results and operational developments. The conference call will be available via phone and webcast. The webcast can be accessed at The Medicines Company website at .
The dial in information is listed below:
Domestic Dial In: 800-659-2032
International Dial In: 617-614-2712
Passcode for both dial in numbers: 69019146
Replay is available from 10:30 a.m. Eastern Time following the conference call through August 8, 2012. To hear a replay of the call dial 888-286-8010 (domestic) and 617-801-6888 (international). Passcode for both dial in numbers is 72155180.
The Medicines Company (NASDAQ: MDCO) provides medical solutions to improve health outcomes for patients in acute and intensive care hospitals worldwide. These solutions comprise medicines and knowledge that directly impact the survival and well being of critically ill patients. The Medicines Company's website is .
Statements contained in this press release about The Medicines Company that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words "believes," "anticipates" and "expects" and similar expressions, including the Company's preliminary revenue results, are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Important factors that may cause or contribute to such differences include the extent of the commercial success of Angiomax, the Company's ability to develop its global operations and penetrate foreign markets, whether the Company's products will advance in the clinical trials process on a timely basis or at all, whether the Company will make regulatory submissions for product candidates on a timely basis, whether its regulatory submissions will receive approvals from regulatory agencies on a timely basis or at all, whether physicians, patients and other key decision makers will accept clinical trial results, risks associated with the establishment of international operations, whether the Company is able to obtain or maintain patent protection for the intellectual property relating to the Company's products; and such other factors as are set forth in the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission including, without limitation, the risk factors detailed in the Company's Quarterly Report on Form 10-Q filed on May 10, 2012, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements.
Contact:
Michael Mitchell
The Medicines Company
973-290-6000
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Datum: 25.07.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 168463
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PARSIPPANY, NJ
Kategorie:
Biotech
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