New Product Launches Drive Revenue and Record Earnings Company Increases Earnings Outlook for 2013 SCHAUMBURG, Ill., Aug. 6, 2013 (GLOBE NEWSWIRE) -- Sagent Pharmaceuticals, Inc. (Nasdaq:SGNT), a leader of specialty pharmaceutical products with an emphasis on the injectable market, today announced financial results for the quarter ended June 30, 2013. Second Quarter 2013 Highlights
- Revenue increased 40% to $59.6 million driven by products launched in the last twelve months;
- Reported gross profit increased 257% to $23.2 million, or 39% of net revenue;
- Adjusted Gross Profit 1 increased 212% to $23.9 million, or 40% of net revenue;
- Net income of $13.4 million, or diluted earnings per share of $0.46, inclusive of a $2.9 million gain related to the KSCP transaction;
- Raised 2013 net income guidance to between $18 million and $28 million; and
- Closed transaction to acquire joint venture partner's 50% interest in KSCP, now known as Sagent China Pharmaceuticals ("SCP"), in furtherance of our strategic objective of vertical integration.