BMP Sunstone Corporation (BJGP) increased its non-GAAP net income guidance for full year 2008 slightly, raising the range by $1 million to between $5 million and $6 million. At the same time, the company reiterated its forecast that revenues will total between $110 million and $120 million this year.
The company's fortunes are on the rise in large part because of its acquisitions, which have extended the reach of its distribution business and taken BMP Sunstone into the drug manufacturing sector.
For BMP Sunstone, non-GAAP net income excludes stock based compensation, amortization related to acquisitions and debt discount amortization and issuance cost related to $23 million in debt issued in November 2007. After these charges, the company's net income will probably remain negative.