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Celgene Third Quarter Earnings
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CELG
Celgene (Nasdaq:CELG) announced its results for the third quarter on October 25, 2012. Celgene is a biopharmaceutical company that develops innovative therapies to treat cancer and immune-inflammatory related diseases.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: Celgene's revenues topped expectations, though the company's EPS fell short of predictions. The company reported 97 cents per share versus the $1.16 per share estimate and revenues of $1.42 billion versus the $1.35 billion estimate. EPS rose 19.8% while revenue climbed 13.6% from the same period last year. Celgene has averaged revenue growth of 19.9% over the past five quarters. Celgene's net income for the third quarter was $424.2 million, a 13.7% increase from last year. Last quarter marked the third in a row of rising net income.
Management Quote: "During the third quarter we generated excellent financial results and advanced major initiatives across our businesses that will serve as the foundation for future growth," said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. "Positive results from late-stage studies for ABRAXANE, apremilast and pomalidomide create a solid path toward significant expansion of our portfolio and vital new options for patients in the future."
A Look Back: Net income has increased 46.1% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 95.7% from the year-earlier quarter.
Looking Ahead: For the next quarter, analysts are growing pessimistic about the company's expected results. The average estimate for the fourth quarter is $1.19 per share, dropping from $1.20 a month ago. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is $4.46 per share, falling from $4.47 30 days ago.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: Can Earnings Guidance Accurately Predict The Future?
The Numbers: Celgene's revenues topped expectations, though the company's EPS fell short of predictions. The company reported 97 cents per share versus the $1.16 per share estimate and revenues of $1.42 billion versus the $1.35 billion estimate. EPS rose 19.8% while revenue climbed 13.6% from the same period last year. Celgene has averaged revenue growth of 19.9% over the past five quarters. Celgene's net income for the third quarter was $424.2 million, a 13.7% increase from last year. Last quarter marked the third in a row of rising net income.
Management Quote: "During the third quarter we generated excellent financial results and advanced major initiatives across our businesses that will serve as the foundation for future growth," said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. "Positive results from late-stage studies for ABRAXANE, apremilast and pomalidomide create a solid path toward significant expansion of our portfolio and vital new options for patients in the future."
A Look Back: Net income has increased 46.1% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 95.7% from the year-earlier quarter.
Looking Ahead: For the next quarter, analysts are growing pessimistic about the company's expected results. The average estimate for the fourth quarter is $1.19 per share, dropping from $1.20 a month ago. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is $4.46 per share, falling from $4.47 30 days ago.
by
Investopedia Staff
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