United Therapeutics Swings to Profit in Q4

| About: United Therapeutics (UTHR)

Biotech company United Therapeutics (NASDAQ:UTHR) said Tuesday it swung into fourth quarter profit as revenues grew by 53%.

For the fourth quarter, the Maryland-based company reported a net income of $9.5 million, or 15 cents a share, compared to a net loss of $3.3 million, or 6 cents a share, for the year ago period.

Excluding non-cash charges, earnings came in at $72.4 million, or $1.17 per diluted share for the period, beating analyst estimates of 62 cents a share. That compares to $36.2 million, or 62 cents per diluted share, for the prior year period.

Meanwhile, revenues were $166.5 million, up from $108.9 million a year ago, but fell short of the $174.9 million expected by analysts.

Sales of the company’s Remodulin, a medication for high blood pressure in the lungs, rose 18% year-over-year to $101.9 million during the quarter. The company’s other heart and lung medications, Tyvaso and Adcirca, which together accounts for 37% of the quarter’s revenue, saw sales more than double.

Gross margin held steady at 88%.

At quarter end, the company had about $0.76 million of cash and marketable securities.

For fiscal 2010, the company had a net income of $105.9 million, or $1.78 a share, compared to $19.5 million, or 35 cents a share, for year before.

Shares ended Tuesday down less than 1% at $67.04.

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Tagged: , Drug Manufacturers - Other, Earnings
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