Auxilium Pharmaceuticals, Inc. (AUXL) Posts Q2 Loss of 44c/Share; Updates FY14 Outlook

Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL) reported Q2 EPS of ($0.44), $0.23 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $83 million versus the consensus estimate of $88.52 million.

Update on Financial Guidance As noted above, the Company incurred a significant charge to cost of goods sold in the second quarter, which, when combined with the mix of products sold, caused gross margin for the quarter to be significantly lower in the second quarter than anticipated. While the ongoing gross margin for the balance of 2014 is expected to be in the 78 to 80 percent range, we believe the impact of the second quarter's gross margin will result in a full year gross margin of 76 to 77 percent. Auxilium has also updated its expectations on spending levels throughout the organization and believes that SG&A expense for the full year will now be in a range of $245 to $250 million, rather than the previous guidance of $255 to $260 million. The Company is reaffirming all other aspects of 2014 guidance, including revenues ($380 to $420 million), non-GAAP R&D Expense ($40 to $45 million), non-GAAP net interest expense ($20 to $22 million) and non-GAAP net income (0 to ($15 million)). This guidance does not take into account the effect of the Company's proposed merger with QLT, Inc.

For earnings history and earnings-related data on Auxilium Pharmaceuticals, Inc. (AUXL) click here.

You May Also Be Interested In

• Okta upgraded as AI security opportunity boosts outlook
• Digital Brands Group forecasts positive cash flow starting in September
• Brinker International (EAT) Misses Q4 EPS by 2c ; Offers Guidance