SILVER SPRING, Md., April 28, 2011 /PRNewswire/ -- United Therapeutics Corporation (NASDAQ: UTHR) today announced its financial results for the first quarter ended March 31, 2011.
"I'm very pleased that we are cruising at a two-thirds of a billion dollar revenue run rate, up almost 30% from a year ago," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "As we now have a year's experience with our product launches, we feel comfortable providing top line guidance for the first time. Specifically, we are forecasting $750 million, $875 million and $1 billion in revenues for calendar years 2011, 2012 and 2013, respectively, with a plus/minus margin of 5% in each case.
Although we are excited about the upcoming unblinding of our FREEDOM M and C-Squared oral treprostinil studies, this guidance conservatively excludes any revenue contribution from that highly promising treatment."
Total revenues for the quarter ended March 31, 2011, were $165.6 million, up from $128.9 million for the quarter ended March 31, 2010. Net income for the quarter ended March 31, 2011, was $16.4 million or $0.28 per basic share, compared to $18.9 million or $0.35 per basic share for the same quarter in 2010. Gross margin from sales was $143.9 million for the quarter ended March 31, 2011, compared to $113.7 million for the same quarter last year. Earnings before non-cash charges(1) for the quarter ended March 31, 2011, were $80.7 million, compared to $68.1 million for the quarter ended March 31, 2010.
(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 March 31, 2011RevenuesThe table below summarizes the components of net revenues (dollars in thousands): Three M
|SOURCE United Therapeutics Corporation|
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