logo
Share SHARE
FONT-SIZE Plus   Neg

Biogen Idec Posts Higher Q1 Profit; Ups 2013 Targets - Quick Facts

Biogen Idec Inc. (BIIB) reported an improvement in first-quarter 2013 GAAP net income to $426.75 million, or $1.79 a share, from $302.66 million, or $1.25 a share, a year earlier. According to non-GAAP basis, net income attributable to Biogen Idec was $469.4 million, or $1.97 a share, the company added. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $1.61 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly total revenues of $1.42 billion, were 10% higher than $1.29 billion in the first quarter of 2012. Analysts estimated revenues of $1.42 billion for the quarter.

For full year 2013, the company now sees non-GAAP earnings per share between $7.80 and $7.90, GAAP earnings per share between $6.69 and $6.79, as well as revenue growth to be around 16% - 18%. Earlier Biogen expected fiscal 2013 adjusted earnings of $7.15 - $7.25 per share on projected revenue growth of about 10 percent. Analysts project annual earnings of $7.79 per share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toyota accepted the resignation of its Chief Communications Officer Julie Hamp, following her arrest in Japan for allegedly mailing banned painkillers to her address in Japan from U.S. PayPal has agreed to buy Xoom, a digital money transfer provider, for $890 million in cash. Following the announcement, Xoom shares jumped 22 percent in after-hours trade on the Nasdaq. Discount retailer Family Dollar Stores Inc., which is being acquired by rival Dollar Tree Inc., said Wednesday after the markets closed that its third quarter profit fell slightly from last year, due mainly to a higher effective tax rate. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations.
comments powered by Disqus
RELATED NEWS
Trade BIIB now with 
Follow RTT