ISTA Pharmaceuticals (ISTA) Tops Q3 EPS by 3c; Guides In-line for FY Revenues

November 3, 2009 4:38 PM EST

ISTA Pharmaceuticals, Inc. (NASDAQ: ISTA) reports Q3 EPS of $0.00 (ex-items) vs. the analyst estimate of ($0.01). Revenue for the quarter was $32.0 million, which compares to the estimate of $27.63 million.

For FY:
Net product revenue for ISTA's four marketed products for the full-year 2009 now is expected to be $103 to $106 million. (consensus is $103.69 million);

ISTA expects to be approximately operating income breakeven in 2009; Full-year 2009 gross margin guidance has been increased to 73% to 75%; Full-year 2009 research and development expenses are now expected to be approximately $23 to $26 million; ISTA expects its net loss for 2009 (excluding any mark-to-market valuation adjustments relating to warrants issued in 2008) will be approximately $7 to $10 million, as its increased net revenue will offset the costs associated with launching Bepreve and expanding its sales force; and ISTA now expects to end 2009 with a cash balance of $45 to $55 million, including cash drawn on its Silicon Valley Bank Revolving Credit Facility.

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