Dendreon Corp Earnings: Revenue Grows Again by Double Digits, Investors Love These Numbers

Dendreon Corporation (NASDAQ:DNDN) reported its results for the third quarter. Dendreon is a biotechnology company that discovers, develops, and sells new therapeutics for cancer patients.

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Dendreon Corporation Earnings Cheat Sheet

Results: Loss widened to $154.9 million ($1.04 per diluted share) from $147.1 million (loss of $1 per share) in the same quarter a year earlier.

Revenue: Rose 21.3% to $78 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Dendreon Corporation reported an adjusted net loss of 33 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 83 cents per share. It fell short of the average revenue estimate of $85.8 million.

Quoting Management: “We delivered strong growth in urology and have continued to improve results in oncology, which demonstrate our commercial progress,” said John H. Johnson, chairman, president and chief executive officer. “These results were offset by a decline in the academic setting, which we believe is being driven by an increase in clinical trial activity from other companies. That said, we are pleased with the progress we’ve made in strengthening our commercial organization.”

Key Stats:

For the past five quarters, the company has seen double-digit year-over-year percentage revenue growth. Over that span, the company has averaged growth of more than threefold, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 708.4% from the year earlier quarter.

After two quarters of falling short, the company beat estimates last quarter. In the second quarter, it missed the mark by 6 cents, and in the first quarter, it came in under estimates by 5 cents.

Looking Forward: The outlook for the company’s next-quarter performance in increasingly unfavorable. Over the past sixty days, the average estimate for the fourth quarter has dipped to a loss of 48 cents per share from a loss of 47 cents. For the fiscal year, the average estimate has moved from a loss of $2.61 a share to a loss of $2.67 over the last sixty days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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