Jazz Pharmaceuticals, Inc. Earnings Cheat Sheet: Swing Up, Topping Expectations

Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) reported its results for the second quarter. A specialty pharmaceutical company, which is focused on developing and commercializing innovative products to meet unmet medical needs in neurology and psychiatry.

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Jazz Pharmaceuticals Earnings Cheat Sheet for the Second Quarter

Results: Swung to a profit of $33.2 million (71 cents per diluted share) in the quarter. The biotechnology company had a net loss of $6.4 million or a loss of 18 cents per share in the year earlier quarter.

Revenue: Rose 59.5% to $64.6 million from the year earlier quarter.

Actual vs. Wall St. Expectations: JAZZ reported adjusted net income of 82 cents per share. By that measure, the company beat the mean estimate of 69 cents per share. It beat the average revenue estimate of $61.9 million.

Quoting Management: “Our strong quarterly performance demonstrates our ongoing commitment to growing Xyrem as the core of our company’s strategy,” said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. “We were also pleased to prepay the remaining $33 million of our long-term debt on July1, further strengthening our balance sheet as our cash position continues to grow.”

Key Stats:

From the first quarter, the company’s current liabilities rose to $81.3 million from $61.4 million.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 2 cents in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 44.7% to $50.9 million in the first quarter. The figure rose 39.4% in the fourth quarter of the last fiscal year from the year earlier and climbed 45.3% in the third quarter of the last fiscal year from the year-ago quarter.

Gross margins grew 1.7 percentage points to 94.8%. The growth seemed to be driven by increased revenue, as the figure rose 59.5% from the year earlier quarter while costs rose 20.3%.

Competitors to Watch: Cephalon, Inc. (NASDAQ:CEPH), Forest Laboratories, Inc. (NYSE:FRX), Transcept Pharmaceuticals, Inc. (NASDAQ:TSPT), Pfizer Inc. (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Caraco Pharmaceutical Laboratories Ltd. (AMEX:CPD), Watson Pharmaceuticals, Inc. (NYSE:WPI), and McKesson Corporation (NYSE:MCK).

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(Source: Xignite Financials)

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