Emergent (EBS) Will Miss 2012 Revenue, Guides FY13 Below Street
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Price: $4.82 -1.43%
Financial Fact:
Weighted-average number of shares - diluted: 49.44M
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Weighted-average number of shares - diluted: 49.44M
Today's EPS Names:
EDXC, BICX, FBPI, More
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Emergent BioSolutions Inc. (NYSE: EBS) today announced preliminary 2012 financial results and provided guidance for 2013.
For 2012, the company anticipates total revenues of $280 to $284 million, which includes approximately $216 million of product sales and $64 to $68 million of contracts and grants revenue. The company also anticipates 2012 net income of $21 to $24 million, which includes a one-time, non-cash charge of $9.6 million related to impairment of in-process research and development associated with the SBI-087 product candidate, which was being developed by Pfizer; the impairment charge was incurred in Q1 2012. In addition, the company anticipates year end 2012 cash and cash equivalents combined with accounts receivable of approximately $235 million.
Product revenues for 2012 are primarily attributable to delivery of approximately 8.1 million doses of BioThrax® (Anthrax Vaccine Adsorbed) to CDC during the year. Contracts and grants revenue for 2012 is primarily attributable to revenues from our contracts with BARDA for large-scale manufacturing of BioThrax and for development of PreviThraxTM (Recombinant Protective Antigen Anthrax Vaccine, Purified).
For 2013, the company forecasts total revenues of $290 to $310 million, split between product sales of $230 to $240 million and contracts and grants revenue of $60 to $70 million. The company also forecasts 2013 net income of $20 to $30 million. The 2013 forecast does not reflect the impact of a possible M&A transaction.
*** Street Sees 2012 EPS of $0.68 on Revenue of $284.72.
***Street Sees 2013 EPS of $0.87 on Revenue of $314.71
For 2012, the company anticipates total revenues of $280 to $284 million, which includes approximately $216 million of product sales and $64 to $68 million of contracts and grants revenue. The company also anticipates 2012 net income of $21 to $24 million, which includes a one-time, non-cash charge of $9.6 million related to impairment of in-process research and development associated with the SBI-087 product candidate, which was being developed by Pfizer; the impairment charge was incurred in Q1 2012. In addition, the company anticipates year end 2012 cash and cash equivalents combined with accounts receivable of approximately $235 million.
Product revenues for 2012 are primarily attributable to delivery of approximately 8.1 million doses of BioThrax® (Anthrax Vaccine Adsorbed) to CDC during the year. Contracts and grants revenue for 2012 is primarily attributable to revenues from our contracts with BARDA for large-scale manufacturing of BioThrax and for development of PreviThraxTM (Recombinant Protective Antigen Anthrax Vaccine, Purified).
For 2013, the company forecasts total revenues of $290 to $310 million, split between product sales of $230 to $240 million and contracts and grants revenue of $60 to $70 million. The company also forecasts 2013 net income of $20 to $30 million. The 2013 forecast does not reflect the impact of a possible M&A transaction.
*** Street Sees 2012 EPS of $0.68 on Revenue of $284.72.
***Street Sees 2013 EPS of $0.87 on Revenue of $314.71
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