This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Celgene Reports Fourth Quarter And Full Year 2013 Operating And Financial Results

Stocks in this article: CELG

Celgene Corporation (NASDAQ:CELG) reported operational results for the fourth quarter and full year of 2013. For the fourth quarter of 2013, total revenue was $1,756 million compared to $1,447 million in the fourth quarter of 2012, an increase of 21 percent. Net product sales were $1,725 million compared to $1,416 million from the same period in 2012, an increase of 22 percent. Adjusted net income for the fourth quarter of 2013 increased 13 percent to $649 million compared to $572 million in the fourth quarter of 2012. For the same period, adjusted diluted earnings per share (EPS) increased 14 percent to $1.51 from $1.32.

Total revenue for the full year of 2013 was $6,494 million compared to $5,507 million for the full year of 2012. Net product sales were $6,362 million compared to $5,386 million for the previous period. Adjusted net income increased 19 percent to $2,563 million. Adjusted diluted EPS increased 21 percent to $5.96 from $4.91 including a $0.13 per share negative impact from collaboration-related payments to partners.

Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene reported fourth quarter of 2013 net income of $214 million and diluted EPS was $0.50. For the fourth quarter of 2012, net income was $263 million and diluted EPS was $0.61. Full year GAAP net income for 2013 was $1,450 million and diluted EPS was $3.37. Full year GAAP net income for 2012 was $1,456 million and diluted EPS was $3.30.

“Celgene delivered outstanding operating and financial results in 2013. Our operating momentum and data from key clinical trials support strong growth in 2014 and beyond,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “The breadth and depth of our 2014 milestones reflect the exciting potential of our products and pipeline.”

Fourth Quarter and Full Year 2013 Financial Highlights

Unless otherwise stated, all comparisons are for the fourth quarter and full year of 2013 compared to the fourth quarter and full year of 2012. The adjusted operating expense categories presented below exclude share-based employee compensation expense, IPR&D impairments, if any, and upfront collaboration payments. Please see the attached Reconciliation of GAAP to Adjusted Net Income for further information.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs