This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lower Stent Coatings Revenue Hurts Angiotech

Once these most recent quarterly results are finalized, they will be run through Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit Ratings Screener.

Angiotech Pharmaceuticals (ANPI) reported on March 5, 2009 that its Q4 FY08 net loss widened, hurt by a write-down of goodwill and lower stent coatings revenue. Q4 FY08 net loss was $76.96 million or $0.90 per share, compared to a loss of $27.86 million or $0.29 per share in Q4 FY07. Adjusted net loss narrowed to $2.62 million or $0.03 per share from $17.04 million or $0.20 per share. The most recent consensus estimate was a loss of $0.01 per share.

Total revenue dropped 13.0% to $62.08 million from $71.36 million in Q4 FY07. Royalty revenue plunged 42.3% to $15.68 million from $27.16 million. Product sales advanced 4.8% to $46.05 million from $43.94 million. However, License revenue surged 32.3% to $352,000 from $266,000.

License and royalty fees expenses declined 38.7% to $2.77 million, but the cost of products sold increased 0.2% to $23.62 million. Research and development expenses slipped 43.0% to $7.72 million from $13.56 million in Q4 FY07. Selling and administrative expenses dipped 20.2% to $21.38 million from $26.78 million.

ANPI's partner, Boston Scientific, recently received approval from the US Food and Drug Administration to market and sell the second generation TAXUS Liberte Paclitaxel-Eluting Coronary Stent System in the United States.

FY08 net loss widened to $741.18 million or $8.71 per share from $65.94 million or $0.66 per share a year ago. Annual revenue declined 1.5% to $283.27 million from $287.69 million in FY07.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $108.43 -2.10%
FB $90.71 -1.80%
GOOG $626.93 -2.40%
TSLA $223.58 -3.60%
YHOO $32.09 0.69%


Chart of I:DJI
DOW 16,916.96 +4.67 0.03%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,749.4680 -41.6840 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs