UPDATE 1-SciClone Q3 tops estimates, raises '09 view

Mon Nov 9, 2009 12:47pm GMT
 
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* Q3 EPS 4 cents vs est 1 cent

* Q3 revenue $17.2 mln vs est $16.8 mln

* Raises '09 profit and rev view

Nov 9 (Reuters) - SciClone Pharmaceuticals Inc (SCLN.O) posted a better-than-expected quarterly profit on strong sales of its hepatitis B treatment and lower research and development expenses, and raised its 2009 forecast.

Third-quarter net income was $2.1 million, or 4 cents a share, compared to $773,000, or 2 cents a share, in the year-ago period. [ID:nWNAB2726]

Revenue for the quarter rose 20 percent to $17.2 million. Research and development expenses for the quarter fell about 9 percent to $4.3 million.

Analysts were expecting earnings of 1 cent, on revenue of $16.8 million, according to Thomson Reuters I/B/E/S.

For 2009, the company now expects to earn 18 cents to 22 cents a share, up from its prior view of 10 cents to 14 cents.

Revenue is expected to be between $70 million and $72 million, compared to its previous expectation of $69 million to $71 million.  Continued...

 

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