Repligen Corp Earnings: Significant Revenue Growth
Repligen Corporation (NASDAQ:RGEN) reported its results for the first quarter. Repligen is a biopharmaceutical company focused primarily on the development of novel therapeutics for radiology and neuropsychiatry.
Investing Insights: What’s the Future of Microsoft’s Stock?
Repligen Earnings Cheat Sheet for the First Quarter
Results: Reported a profit of $1.2 million (4 cents per diluted share) in the quarter. Repligen Corporation had a net loss of $2 million or a loss 7 cents per share in the year-earlier quarter.
Revenue: Rose more than twofold to $12.8 million from the year-earlier quarter.
Quoting Management: “Our acquisition of Repligen Sweden has provided us significant revenue growth and positioned us to benefit from the long term growth of the market for biologic drugs,” stated Walter C. Herlihy, Ph.D., President and CEO of Repligen. “We currently expect bioprocessing revenue of $39 to $41 million in 2012, and we have begun to implement cost reduction efforts to improve manufacturing margins.”
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories: