Repligen (RGEN) Tops Q3 EPS by 2c, Revenues Beat; Boosts FY18 EPS/Revenue Guidance

Repligen (NASDAQ: RGEN) reported Q3 EPS of $0.20, $0.02 better than the analyst estimate of $0.18. Revenue for the quarter came in at $49.5 million versus the consensus estimate of $46.74 million.

Tony J. Hunt, President and Chief Executive Officer said, “Our third quarter financial performance was highlighted by across the board strength with overall 24% organic revenue growth. Spectrum product sales continued to exceed our expectations, delivering 28% pro forma growth during the third quarter compared to the same period in 2017, and tracking ahead of plan on 2018 revenue synergies. We continue to develop strategic partnerships, signing key agreements in the quarter with Sartorius Stedim Biotech (SSB) around our XCell™ ATF technology and with Purolite Life Sciences, where we extended our ligand agreement. Looking beyond the third quarter, we are seeing accelerating demand and strong order growth, thus we are increasing our full year revenue guidance.”

Third Quarter 2018 Highlights

• Total revenue increased by 35% year-over-year, to a new quarterly record of $49.5 million
• Overall organic revenue growth was 24%
• Spectrum product sales contributed $13.2 million, a pro forma increase of 28% year-over year
• GAAP gross margin was 55.2% and adjusted gross margin was 55.6%
• GAAP fully-diluted EPS was $0.10 compared to $0.11 for the third quarter of 2017
• Adjusted (non-GAAP) fully-diluted EPS was $0.20 compared to $0.15 for the third quarter of 2017

GUIDANCE:

Repligen sees FY2018 EPS of $0.71-$0.75, versus the consensus of $0.71. Repligen sees FY2018 revenue of $191-194 million, versus the consensus of $187.92 million.

For earnings history and earnings-related data on Repligen (RGEN) click here.

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