Jazz Pharmaceuticals plc (JAZZ: Quote) Tuesday reported a decline in profit for the second quarter, due mainly to higher operating expenses, despite increased revenues.
The Dublin, Ireland-based company's second-quarter net profit was $27.15 million or $0.45 per share, compared to $33.20 million or $0.71 per share last year.
Adjusted income for the quarter rose to $66.17 million or $1.09 per share from $38.38 million or $0.82 per share in the prior-year quarter. On average, seven analysts polled by Thomson Reuters expected the company to earn $1.05 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $129.54 million from $64.57 million in the prior-year quarter. Six analysts had a consensus revenue estimate of $125.53 million for the quarter.
Looking ahead, the company expects full-year net income in the range of $139 million to $154 million or $2.34 to $2.57 per share and adjusted income to range between $282 million and $291 million or $4.70 and $4.85 per share. Revenues for the year are anticipated in the range of $605 million to $615 million. Analysts currently expect the company to earn $4.66 per share for the year, with revenues of $599.50 million.
 | | To receive FREE breaking news email alerts for Jazz Pharmaceuticals plc and others in your portfolio |
|
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News