Celgene Corporation (NASDAQ: CELG) reported total revenue of $1,419 million for the third quarter of 2012, a 14 percent increase from the same period in 2011. Adjusted (Non-GAAP) net income for the third quarter of 2012 increased 20 percent to $561 million compared to $469 million in the third quarter of 2011. For the same period, adjusted diluted earnings per share increased 26 percent to $1.29 from $1.02.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene reported third quarter 2012 net income of $424 million or $0.97 per diluted share. For the third quarter of 2011, net income was $373 million or $0.81 per diluted share.
“During the third quarter we generated excellent financial results and advanced major initiatives across our businesses that will serve as the foundation for future growth,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “Positive results from late-stage studies for ABRAXANE, apremilast and pomalidomide create a solid path toward significant expansion of our portfolio and vital new options for patients in the future.”
Raising 2012 Earnings Outlook; Narrowing Revenue Guidance
- Adjusted diluted EPS is expected to increase approximately 29 percent year-over-year to a range of $4.85 to $4.90, up from a previous range of $4.80 to $4.85.
- Total revenue is expected to increase approximately 14 percent year-over-year to a range of $5,450 to $5,550 million. The previous range was $5,400 to $5,600 million.
- REVLIMID ® net product sales are expected to increase approximately 18 percent year-over-year to a range of $3,750 to $3,800 million. The previous range was $3,750 to $3,850 million.