Celgene Corporation (NASDAQ:CELG) reported third quarter 2013 total revenue of $1,674 million compared to $1,419 million in the third quarter 2012. Net product sales were $1,644 million, an 18 percent increase from the same period in 2012. Adjusted net income for the third quarter of 2013 increased 19 percent to $669 million compared to $561 million in the third quarter of 2012. For the same period, adjusted diluted earnings per share (EPS) increased 21 percent to $1.56 from $1.29.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene reported third quarter 2013 net income of $372 million or $0.87 per diluted share. For the third quarter of 2012, net income was $424 million, or $0.97 per diluted share.
“Celgene had an exceptional third quarter with continued operating momentum across our global businesses highlighted by approvals for IMNOVID ® for relapsed and refractory multiple myeloma in Europe and ABRAXANE ® for pancreatic cancer in the U.S.,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “In the fourth quarter we will present new data on apremilast in psoriatic arthritis at ACR and on REVLIMID ® in newly diagnosed multiple myeloma at ASH.”
2013 Guidance Updated
- Total Net Product Sales are now expected to exceed $6,200 million
- REVLIMID ® Net Product Sales are expected to be in the mid-to-upper end of the range of $4,200 million to $4,300 million
- Adjusted diluted EPS guidance is raised to a range of $5.90 to $5.95 from the previous range of $5.80 to $5.90
- GAAP diluted EPS is expected to be in the range of $3.77 to $3.90
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV