United Therapeutics Reports First Quarter 2008 Financi... ( - Record Total Revenues of $62.0 Mil...)

United Therapeutics Reports First Quarter 2008 Financial Results

Date:5/1/2008

- Record Total Revenues of $62.0 Million, Up 55 Percent over First Quarter

2007 - First Quarter EPS of $0.51 per Basic Share, or $0.47 per Diluted Share - First Quarter Earnings Before Non-Cash Charges of $1.13 per Basic Share,

or $1.05 per Diluted Share

SILVER SPRING, Md., May 1 /PRNewswire-FirstCall/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its results of operations for the quarter ended March 31, 2008.

Total revenues for the first quarter of 2008 were $62.0 million, up 55% from $40.2 million for the first quarter of 2007. Net income for the first quarter of 2008 was $11.4 million, or $0.51 per basic share as compared to a net loss of $2.8 million, or $(0.13) per basic share, for the first quarter of 2007. Earnings before non-cash charges, which measures GAAP earnings before non-cash income taxes, depreciation, amortization and stock option expenses, were $25.2 million for the first quarter of 2008, up 102% from $12.5 million for the first quarter of 2007. Gross margins from sales were $54.5 million in the first quarter of 2008, up 52% from $35.8 million in the first quarter of 2007. The increases in revenues and gross margins resulted primarily from growth in sales of our lead product, Remodulin.

"We are very pleased that our revenues and earnings before non-cash charges for the first quarter of 2008 increased substantially over the same quarter in 2007," said Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "This indicates continued strong growth in physician and patient appreciation of Remodulin, our version of the natural vasoactive molecule prostacyclin, administered intravenously and su
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SOURCE United Therapeutics Corporation
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