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Pharmacyclics Management Discusses Q4 2012 Results - Earnings Call Transcript

Stocks in this article: PCYC

Unfortunately, our Chief Medical Officer, Dr. Lori Kunkel, cannot join us today due to a family vacation, which she has unfortunately no phone access so Dr. Jesse McGreivy will jump in and will provide the clinical update.

Our agenda for today's call will focus on the accomplishments we have achieved organizationally, the team we have built up here at the company and accomplishments within our partnership with Janssen. We will summarize the clinical initiations and achievements, and we will also provide a clinical outlook of what to expect by year end.

Let me start with a summary of our financial results. Revenue for the fiscal year ended June 30, 2012, was $82 million compared to $8.2 million for the fiscal year ended June 30, 2011, an increase of $73.8 million.

The non-GAAP net income reported for the fiscal year ended June 30, 2012, was $21.9 million or $0.32 per basic and $0.30 per diluted share. This compares with the non-GAAP not less -- net loss of $28 million or $0.47 loss per share for the fiscal year ended June 30, 2011.

For the quarter ended June 30, 2012, the non-GAAP net loss was $15.1 million or $0.22 per share, which compares with a non-GAAP net loss of $9.1 million or $0.15 per share for 2011 -- for the 2011 quarter.

The GAAP net income for the fiscal year ended June 30, 2012, was $12 million or $0.17 per basic and diluted share. This compares with a GAAP net loss of $35.2 million or $0.59 per share for the year ended June 30, 2011. For the quarter ended June 30, 2012, the GAAP net loss was $16.9 million or $0.24 loss per share. This compares with a GAAP net loss of $11 million or $0.18 loss per share for the fiscal quarter ended June 30, 2011.

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