Hutchison China MediTech (HCM) Reports Q2 EPS of $0.03

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July 31, 2017 6:27 AM EDT

Hutchison China MediTech (NASDAQ: HCM) reported Q2 EPS of $0.03, versus $0.01 reported last year. Revenue for the quarter came in at $126.6 million, versus $104.5 million reported last year.

FINANCIAL GUIDANCE:

Our updated guidance for 2017, compared to the most recent guidance in our full year results announcement for the year ended December 31, 2016 dated March 13, 2017, reflects no overall change to estimated net income/(loss) for the Chi-Med Group. The only adjustment that we would highlight is the potential for deferral, into 2018, of the one-time property gains resulting from Guangzhou government policy. Full year 2017 financial guidance is detailed below:

Group Level: 2017 Previous

Guidance[1]

 2017 Current

Guidance

 Adjustment
  • Consolidated revenue
 $225-240 million $225-240 million none
  • Admin., interest & tax
 $(18)-(19) million $(18)-(19) million none
  • Net income/(loss)[2]
 $(13)-(28) million $(13)-(28) million none

Innovation Platform:
  • Consolidated revenue
 $35-40 million $35-40 million none
  • Adjusted R&D expenses
 $(85)-(90) million $(85)-(90) million none

Commercial Platform:
  • Sales (consolidated)
 $190-200 million $190-200 million none [4]
  • Sales of non-consol. JVs[3]
 $480-500 million $480-500 million none
  • One-time property/R&D gains[2]
 $14-16 million[4] $3-16 million[4] $0-11 million less[4]
  • Net income[2]
 $46-50 million $35-50 million $0-11 million less
Notes: [1] Company Guidance March 13, 2017; [2] Attributable to Chi-Med; [3] Joint ventures; [4] timing subject to Guangzhou government policy.

For earnings history and earnings-related data on Hutchison China MediTech (HCM) click here.


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