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Questcor Reports Fourth Quarter and Full Year 2012 Results

ANAHEIM, Calif., Feb. 26, 2013 /PRNewswire/ -- Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) today reported financial results for the fourth quarter and full year ended December 31, 2012. Three Months Ended 12/31/12

Three Months Ended 12/31/11

Percentage ChangeNet Sales

$160.5 Million

$75.5 Million

113%GAAP Diluted EPS



115%Non-GAAP Diluted EPS



132% Year Ended 12/31/12

Year Ended 12/31/11

Percentage ChangeNet Sales

$509.3 Million

$218.2 Million

133%GAAP Diluted EPS



160%Non-GAAP Diluted EPS



162%Net sales for the fourth quarter of 2012 were $160.5 million, compared to $75.5 million for the same period in 2011. Net sales increased primarily due to expanded prescribing of H.P. Acthar® Gel (repository corticotropin injection) by nephrologists in the treatment of nephrotic syndrome, as well as continued prescribing by neurologists in the treatment of MS relapses and infantile spasms. Net sales also benefitted from the initiation of commercial activities focused on the use of Acthar by rheumatologists in the treatment of on-label rheumatology-related conditions.

GAAP earnings for the fourth quarter of 2012 were $1.03 per diluted common share, compared to $0.48 per diluted common share for last year's comparable quarter. Non-GAAP earnings for the quarter ended December 31, 2012 were $1.09 per diluted common share and exclude non-cash share-based compensation expense and depreciation and amortization expense. Non-GAAP earnings for the year ago quarter were $0.47 per diluted common share. Basic common share count decreased over 5 million shares from the fourth quarter of 2011 to the fourth quarte

SOURCE Questcor Pharmaceuticals, Inc.
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