Selling, General and Administrative
For Q2 2013, selling, general and administrative expenses were $20.5 million, an increase of $2.6 million from $17.9 million for Q2 2012. For the six month period of 2013, selling, general and administrative expenses were $40.5 million, an increase of $3.1 million from $37.4 million for the comparable period of 2012. The increase in both periods was primarily due to costs related to the restructuring of the company’s U.K. operations and, to a lesser extent, costs associated with increased professional services.
Financial Condition and Liquidity
Cash and cash equivalents plus accounts receivable balance, which consists of unpaid amounts due from the US government under our procurement and development contracts, at June 30, 2013 was $210.6 million compared to $193.2 million at March 31, 2013 and $237.7 million at December 31, 2012.Conference Call and Webcast Company management will host a conference call at 5:00 pm Eastern on Monday, August 5, 2013 to discuss these financial results. The conference call will be accessible by dialing 888.713.4217 or 617.213.4869 (international) and providing passcode 80425830. A webcast of the conference call will be accessible from the company’s website at www.emergentbiosolutions.com, under “Investors.” A replay of the conference call will be accessible, approximately two hours following the conclusion of the call, by dialing 888.286.8010 or 617.801.6888 and using passcode 43500766. The replay will be available through August 12, 2013. The webcast will be archived on the company’s website, www.emergentbiosolutions.com, under “Investors.” About Emergent BioSolutions Inc. Emergent BioSolutions is a specialty pharmaceutical company seeking to protect and enhance life by offering specialized products to healthcare providers and governments to address medical needs and emerging health threats. Additional information about the company may be found at www.emergentbiosolutions.com. Follow us on twitter: @emergentbiosolu Safe Harbor Statement This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding our financial guidance, and any other statements containing the words “believes”, “expects”, “anticipates”, “intends”, “plans”, “estimates” and similar expressions, are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.