Derma Sciences (DSCI) Tops Q2 EPS by 16c

Derma Sciences (NASDAQ: DSCI) reported Q2 EPS of $0.08, $0.16 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $22.2 million versus the consensus estimate of $22.4 million.

Financial Guidance

Reflecting the acquisition of BioD and the pending sale of its FAD, Derma Sciences is providing the following information and financial guidance for 2016:

• Pro forma 2016, which presumes BioD was part of Derma Sciences for the full year and excludes FAD sales for entire year (for comparative purposes Derma Sciences is assuming the same for 2015):
  • Total net sales of $97.3 million
    • Representing growth of 13% compared with net sales of $86.4 million for 2015
  • AWC net sales of $71.5 million
    • Representing growth of 18% compared with net sales of $60.4 million for 2015
    • Consisting of $47.2 million for the Company’s standalone products (up 13% over 2015) plus $24.3 million for BioD products (up 30% over 2015)
    • Gross margin for the AWC business of approximately 65%
  • TWC net sales of $25.8 million
    • Representing a decline of 0.8% compared with net sales of $26.0 million for 2015
• GAAP 2016, which reflects purchase accounting and thus includes only those net sales during the period BioD and FAD were actually owned by the Company:
  • AWC net sales of $57.7 million
    • Representing growth of 38% compared with net sales of $41.8 million for 2015
    • Consisting of previously stated guidance of $47.2 million on the Company’s standalone products plus $10.5 million of BioD products
  • TWC net sales cannot be calculated until the sale of FAD has closed, which is expected later this month

For earnings history and earnings-related data on Derma Sciences (DSCI) click here.

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