Zogenix, Inc. (NASDAQ:ZGNX) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Zogenix, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.26 in the year-earlier quarter.
Revenue: Rose 10.83% to $8.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Zogenix, Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.15. It beat the average revenue estimate of $8.63 million.
Quoting Management: Roger Hawley, chief executive officer of Zogenix, stated, “Based on our recent interactions, the FDA is working on the Zohyrdo ER NDA and has indicated that it is reviewing the NDA as fast as possible and that nothing has changed with respect to reaching an action letter this summer. We have been reassured again that there are no deficiencies in the application. If approved, Zogenix will be prepared to launch Zohydro ER approximately three to four months after approval.”
Key Stats (on next page)…
Revenue increased 27.51% from $6.98 million in the previous quarter. EPS increased to $-0.13 in the quarter versus EPS of $-0.21 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.13 to a loss $0.12. For the current year, the average estimate has moved up from a loss of $0.60 to a loss of $0.57 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)