Silver Springer
February 8th, 2007, 07:02 PM
MedImmune reports profits; stock falls on sales
Washington Business Journal - 5:44 PM EST Wednesday, February 7, 2007by Jeff ClabaughStaff Reporter
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Medimmune, losing money a year ago, reported a profit for its latest quarter on gains in sales of its drugs and vaccines.
The Gaithersburg-based company had fourth-quarter net income of $121 million, or 50 cents per share, compared to a net loss of $22 million, or 9 cents per share in the same quarter a year ago. Quarterly revenue rose 7 percent to $529 million.
MedImmune was expected to report revenue of $554.3 million, according to the average estimate of analysts in a Bloomberg survey.
MedImmune shares fell 8.73 percent, or $2.97 per share, to close at $31.04 in trading Wednesday.
Sales of its Synagis drug, a treatment for infant respiratory infection, led revenue, accounting for $457 million in revenue. MedImmune's FluMist nasal spray flu vaccine added $18 million in revenue, more than double sales of FluMist in the same quarter a year ago.
MedImmune's 2006 revenue was $1.3 billion, compared to $1.1 billion in total sales in 2005.
MedImmune (NASDAQ: MEDI) also confirmed its earlier guidance for 2007 results, forecasting $1.5 billion in revenue this year.
Washington Business Journal - 5:44 PM EST Wednesday, February 7, 2007by Jeff ClabaughStaff Reporter
Print this Article Email this Article Reprints RSS Feeds Most Viewed Most Emailed
Medimmune, losing money a year ago, reported a profit for its latest quarter on gains in sales of its drugs and vaccines.
The Gaithersburg-based company had fourth-quarter net income of $121 million, or 50 cents per share, compared to a net loss of $22 million, or 9 cents per share in the same quarter a year ago. Quarterly revenue rose 7 percent to $529 million.
MedImmune was expected to report revenue of $554.3 million, according to the average estimate of analysts in a Bloomberg survey.
MedImmune shares fell 8.73 percent, or $2.97 per share, to close at $31.04 in trading Wednesday.
Sales of its Synagis drug, a treatment for infant respiratory infection, led revenue, accounting for $457 million in revenue. MedImmune's FluMist nasal spray flu vaccine added $18 million in revenue, more than double sales of FluMist in the same quarter a year ago.
MedImmune's 2006 revenue was $1.3 billion, compared to $1.1 billion in total sales in 2005.
MedImmune (NASDAQ: MEDI) also confirmed its earlier guidance for 2007 results, forecasting $1.5 billion in revenue this year.