Abraxis BioScience (ABBI) Reports Q4 Earnings, Comments on FY07
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Abraxis BioScience, Inc. (NASDAQ: ABBI) reports Q4 EPS of $0.29 (GAAP EPS was $0.18) vs. consensus of $0.16. Revenues were $257.1 million vs. $208.73 million consensus.
For the full year of 2007, Abraxis is providing the following financial guidance estimates, which excludes effects of stock compensation:
APP segment hospital-based product net sales increase mid-teens from prior year with gross margins between 48 percent and 52 percent, excluding product rights amortization associated with the AstraZeneca product purchase; ABRAXANE net sales between $285 million and $305 million; Company-wide R&D expenses between $100 million and $110 million; and Company-wide Selling, General and Administrative expenses, excluding ABRAXANE commissions, between $195 million and $205 million.
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