The Medicines Co. (MDCO) said its third-quarter net loss narrowed to $3.20 million or $0.06 per share from $13.22 million or $0.25 per share in the prior year quarter. Non-GAAP net income for the quarter was $5.07 million or $0.10 per share.
Net revenue for the third quarter grew to $98.79 million from $88.13 million in the comparable period. On average, 5 analysts polled by Thomson Reuters expected loss per share of $0.05 on revenues of $96.99 million for the quarter. Analysts' estimate typically excludes one-time items.
For the full year 2009, the company now expects loss per share in the range of $0.25 - $0.19 compared with its prior range of profit of $0.24 - $ 0.34. Also, the company lowered its full-year non-GAAP earnings per share view to $0.14 - $ 0.24 from its earlier range of $0.88-$ 1.10. Six analysts expect earnings per share of $0.06 for the year 2009.
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