UPDATE: Alliqua (ALQA) Tops Q2 EPS by 5c, Beats on Revenues; FY17 Revenue Outlook Below Consensus

Alliqua (NASDAQ: ALQA) reported Q2 EPS of ($0.09), $0.05 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $5.5 million versus the consensus estimate of $5.07 million.

Fiscal Year 2017 Financial Outlook:

The Company is maintaining its revenue guidance for the fiscal year 2017 period, which was last updated on April 6, 2017. For the fiscal year ending December 31, 2017, the Company expects total revenue of $20.4 million to $21.3 million, representing growth in the range of approximately 12% to 17% year-over-year on a GAAP basis.

The Company’s total revenue guidance assumes the following:

The Company’s total revenue guidance assumes product sales of $19.0 million to $19.9 million, representing growth in the range of approximately 18% to 24% year-over-year compared to product sales of $16.1 million in the fiscal year ended December 31, 2016.
Contract manufacturing sales of approximately $1.4 million, compared to $2.2 million in the fiscal year ended December 31, 2016. As previously reported, subsequent to December 31, 2016, the Company was notified by a customer of its contract manufacturing services of its intent not to use the Company’s services going forward.

For the fiscal year 2017, the Company expects cash burn from operations to be approximate $12.0 million, representing a decrease of approximately $6.3 million year-over-year, compared to $18.3 million in fiscal year 2016.

Second Quarter 2017 Summary:

• Total revenue from continuing operations increased 24% year-over-year to $5.5 million.
• Product revenue from continuing operations increased 34% year-over-year to $4.9 million.• Sales of Biologics products franchise increased 106% year-over-year in Q2.• UltraMist system sales increased 147% year-over-year in Q2.
• Gross margin from continuing operations increased to 66%, from 64% in the same period last year.
• Adjusted EBITDA loss from continuing operations improved by $2.5 million, or 55% year-over-year, to ($2.0) million.

For earnings history and earnings-related data on Alliqua (ALQA) click here.

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