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Pharmacyclics Reports Second Quarter 2013 Results
Date:7/31/2013

SUNNYVALE, Calif., July 31, 2013 /PRNewswire/ -- Pharmacyclics, Inc. (the "Company") (Nasdaq: PCYC) today reported financial results and recent developments for its quarter ended June 30, 2013.

Financial Results for the Three and Six Months Ended June 30, 2013 Non-GAAP net income reported for the quarter ended June 30, 2013 was $19.2 million, or $0.26 and $0.25 net income per basic and diluted share, respectively, compared to non-GAAP net loss of $15.1 million, or $0.22 net loss per basic and diluted share for the quarter ended June 30, 2012. Non-GAAP net loss reported for the six months ended June 30, 2013 was $9.1 million, or $0.13 net loss per share, compared to non-GAAP net loss of $24.4 million or $0.35 net loss per share for the six months ended June 30, 2012. See "Use of Non-GAAP Financial Measures" below for a description of our non-GAAP measures. Reconciliation between certain generally accepted accounting principles ("GAAP") and non-GAAP measures is provided at the end of this press release.

GAAP net income for the quarter ended June 30, 2013 was $12.4 million, or $0.17 and $0.16 net income per basic and diluted share, respectively. This includes stock-based compensation expense of $6.9 million. For the quarter ended June 30, 2012, GAAP net loss was $16.9 million, or $0.24 net loss per share. This includes stock-based compensation expense of $1.8 million. For the six months ended June 30, 2013, GAAP net loss was $39.6 million, or $0.55 net loss per basic and diluted share, compared to GAAP net loss of $29.7 million, or $0.43 loss per basic and diluted share for the six months ended June 30, 2012. Included in GAAP net loss for the six months ended June 30, 2013 and June 30, 2012 was stock-based compensation expense of $30.4 million and $5.3 million, respectively.

Revenue for the quarter ended June 30, 2013 was $54.7 million compared to $2.1 million for
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SOURCE Pharmacyclics, Inc.
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