- Total revenues for the second quarter of fiscal 2013 increased more than 72% to $124.0 million, compared to the same period in fiscal 2012, which was attributable to the expansion of the company’s commercial product portfolio as a result of the merger and growth from the company’s key commercial products. Total revenues of $72.0 million for the same period in fiscal 2012 included results for Alkermes, Inc. and 14 days of operations of the former EDT business.
- Based on accounting principles generally accepted in the U.S. (GAAP), Alkermes reported a net loss of $16.7 million, or a basic and diluted loss per share of $0.13, for the second quarter of fiscal 2013. This compared to a GAAP net loss of $22.3 million, or a basic and diluted loss per share of $0.22, for the same period in fiscal 2012.
- Included in the GAAP net loss for the second quarter of fiscal 2013 was a one-time charge of $12.1 million related to the refinancing of the company’s debt in September 2012. The company successfully refinanced its previously outstanding senior secured term loans and reduced the company’s overall debt outstanding. The new term loans have a lower blended interest rate of approximately 4.4% compared to the prior blended interest rate of approximately 7.6%, and the refinancing is expected to result in savings of approximately $18 million in cash interest annually.
- The company reported non-GAAP 1 net income of $23.7 million, or non-GAAP diluted earnings per share (EPS) of $0.17, for the second quarter of fiscal 2013. This compared to non-GAAP net income of $7.1 million, or a non-GAAP diluted EPS of $0.07, for the same period in fiscal 2012.
Alkermes Plc Reports Second Quarter Fiscal 2013 Financial Results
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