- Revenues of $68.6 Million, Increase of 32% Over Second Quarter 2007 - EPS of $0.63 per Basic Share, Increase of 125% Over Second Quarter 2007 - Earnings Before Non-Cash Charges of $1.36 per Basic Share, Increase of
56% Over Second Quarter 2007
SILVER SPRING, Md., July 31 /PRNewswire-FirstCall/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its results of operations for the quarter ended June 30, 2008.
Total revenues for the second quarter of 2008 were $68.6 million, up 32.3% from $51.8 million for the second quarter of 2007. Net income for the second quarter of 2008 was $14.3 million, or $0.63 per basic share, compared to $5.8 million, or $0.28 per basic share, for the second quarter of 2007. Gross margins from sales were $60.6 million in the second quarter of 2008, compared to $45.8 million in the second quarter of 2007. The increases in revenues and gross margins corresponded to the growth in sales of our lead product, Remodulin. Earnings before non-cash charges, defined as net income before non-cash income taxes, depreciation, amortization, impairment charges and share-based compensation (stock option and share tracking award expense), were $30.7 million for the second quarter of 2008, up 70.3% from $18.0 million for the second quarter of 2007.
"It is gratifying that we are on track to grow our annual revenues in
excess of 30% for the sixth consecutive year," said Martine Rothblatt,
Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "I am
also pleased that, after twelve years of operations, our accumulated
deficit has been eliminated and we are now able to report accumulated
earnings. These financial accomplishments reflect the decisions of hundreds
|SOURCE United Therapeutics Corporation|
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