SILVER SPRING, Md., July 28, 2011 /PRNewswire/ -- United Therapeutics Corporation (NASDAQ: UTHR) today announced its financial results for the quarter ended June 30, 2011.
"I'm pleased with the successful unblinding of the FREEDOM-M study this quarter, as well as the very good operating results we achieved," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "We remain on track to reach our 2011 forecast for revenues of $750 million, with a plus/minus margin of 5 percent."Total revenues for the quarter ended June 30, 2011 were $183.8 million, up from $134.7 million for the quarter ended June 30, 2010. Net income for the quarter ended June 30, 2011, was $73.9 million, or $1.27 per basic share, compared to $37.7 million, or $0.67 per basic share, for the same quarter in 2010. Gross margin from sales was $162.4 million for the quarter ended June 30, 2011, compared to $119.2 million for the same quarter last year. Earnings before non-cash charges(1) for the quarter ended June 30, 2011 were $93.5 million, compared to $65.7 million for the quarter ended June 30, 2010.
Results for the three- and six-month periods ended June 30, 2011 and June 30, 2010 do not include the results of Medicomp, Inc., our former telemedicine subsidiary, which we sold during the first quarter of 2011. The results of Medicomp, Inc. have been reported within discontinued operations on our consolidated statements of operations below.
(1) See definition of earnings before non-cash charges, a non-GAAP financial measure, and a reconciliation of net income to earnings before non-cash charges below.
Financial Results for the Three Months Ended June 30, 2011Revenues
The table below summarizes the components of net revenues (dollars in thousands):Three Months EndedJune 30,20112010Percentage ChangeCardiopulmonary products:Remodulin
|SOURCE United Therapeutics Corporation|
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