Theravance Inc. (NASDAQ:THRX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.
Theravance Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.39 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Decreased 98.95% to $1.34 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Theravance Inc. reported adjusted EPS loss of $0.39 per share. By that measure, the company missed the mean analyst estimate of $-0.38. It missed the average revenue estimate of $2.26 million.
Quoting Management: “Theravance is off to a strong start in 2013 highlighted by the recent FDA Advisory Committee meeting which recommended approval of BREO™ ELLIPTA™ for the treatment of COPD,” said Rick E Winningham, Chief Executive Officer. “This positive outcome marks another important milestone for Theravance in a year of transformation and potential growth. Today we issued a press release announcing our intention to separate the late-stage respiratory assets partnered with GSK from our biopharmaceutical operations to create two independent publicly traded companies. We believe this will provide investors with the opportunity to unlock potential value from two disparate sets of assets. Overall, we believe that Theravance is extremely well positioned both strategically and financially.”
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