Questcor Pharmaceuticals (QCOR) Reports Preliminary Q2 Financial Results
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Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR) currently estimates that net sales for the second quarter will be in the range of $23 million to $24 million and earnings per fully diluted share will be in the range of $0.09 to $0.11.
The preliminary results in this release are based on a variety of factors including an expected reduction of approximately 31% to 34% in gross sales due to Medicaid rebates, government chargebacks and changes in estimates related to product returns; gross margin of approximately 90%; operating expenses in the range of approximately $8.5 million to $9.5 million; and, an estimated effective tax rate for purposes of financial reporting of approximately 39% to 41%. If the final determination of these factors results in figures outside of these expected ranges, the Company's second quarter fully diluted earnings per share could be above or below the currently estimated range of $0.09 to $0.11.[SM]
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