Medivation (MDVN) Tops Q2 EPS by 2c, Affirms Guidance

August 9, 2016 4:15 PM EDT
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Medivation (NASDAQ: MDVN) reported Q2 EPS of $0.29, $0.02 better than the analyst estimate of $0.27. Revenue for the quarter came in at $206 million versus the consensus estimate of $212.74 million.

016 Financial Guidance:

Medivation is reaffirming its 2016 full-year financial guidance as set forth below. For R&D expenses and SG&A expenses (and, as a result, total operating expenses, tax rate and diluted earnings per share), Medivation is not providing guidance regarding GAAP results because it is unable to reliably forecast the items excluded from non-GAAP expenses, such as contingent consideration and transaction-related advisory expenses, except to the extent reflected in the footnotes to the table below. Certain of the excluded items have been material through June 30, 2016, and these and other excluded items can be expected to be material for the full year 2016.

                                                                            
MEDIVATION FULL-YEAR 2016 FINANCIAL GUIDANCE

Year Ending December 31,
2016
---------------------------
U.S. net sales of XTANDI $1.425 to $1.525 billion(1)
Collaboration revenue $900 to $970 million(2)
Non-GAAP operating expenses $555 to $600 million(3)
Non-GAAP R&D expenses $280 to $300 million(4)
Non-GAAP SG&A expenses $275 to $300 million(5)
Non-GAAP tax rate 35.5% - 36%
Non-GAAP diluted earnings per share $1.30 - $1.40(6)

For earnings history and earnings-related data on Medivation (MDVN) click here.



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