Alkermes (NASDAQ: ALKS) reported Q3 EPS of $0.07, $0.15 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $248.7 million versus the consensus estimate of $236.7 million.

"Our solid results in the quarter were in-line with expectations, driven by the growth of our proprietary commercial products, the continued strength of our royalty and manufacturing business, and the important investments we are making in our late-stage pipeline and commercial organization," commented James Frates, Chief Financial Officer of Alkermes. "Our diverse business is financially strong and we are well positioned to execute on our strategy to drive value and long-term growth. Based on our outlook for the remainder of the year, today we are raising our financial expectations for 2018, primarily driven by upside from AMPYRA® revenues."

• Total revenues for the quarter were $248.7 million. This compared to $217.4 million for the same period in the prior year, representing an increase of 14%. Proprietary product net sales for VIVITROL® and ARISTADA® were $116.0 million for the quarter, reflecting a 24% increase compared to the same period in the prior year.
• Net loss according to generally accepted accounting principles in the U.S. (GAAP) was $34.4 million for the quarter, or a basic and diluted GAAP net loss per share of $0.22. This compared to GAAP net loss of $36.3 million, or a basic and diluted GAAP net loss per share of $0.24, for the same period in the prior year.
• Non-GAAP net income was $11.6 million for the quarter, or a non-GAAP basic and diluted earnings per share of $0.07. This compared to non-GAAP net income of $4.2 million, or a non-GAAP basic and diluted earnings per share of $0.03, for the same period in the prior year.

GUIDANCE:

Alkermes sees FY2018 EPS of $0.12-$0.31, versus the consensus of $0.07.

For earnings history and earnings-related data on Alkermes (ALKS) click here.