BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
BioMarin Pharmaceutical Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.43 in the quarter versus EPS of $-0.23 in the year-earlier quarter.
Revenue: Rose 21.43% to $130.96 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: BioMarin Pharmaceutical Inc. reported adjusted EPS loss of $0.43 per share. By that measure, the company missed the mean analyst estimate of $-0.27. It beat the average revenue estimate of $129.74 million.
Quoting Management: “2012 was a milestone year for BioMarin. Our growing commercial portfolio helped us surpass $500 million in total revenue and the pipeline continued to advance, culminating in positive results for the pivotal Phase 3 study for Vimizim at the end of the year,” said Jean-Jacques Bienaime, Chief Executive Officer of BioMarin. “We are poised for additional clinical milestones in the first half of 2013 with key data readouts from BMN-701 for Pompe disease and BMN-673, our PARP inhibitor. We also expect to have our first regulatory approval for Vimizim by the end of 2013, which we believe will propel the company into its next stage of growth.”
Key Stats (on next page)…