Celgene Sales Fueled by Domestic Growth -- Earnings Review

By FeaturesDow Jones Newswires

Celgene Corp. (CELG) reported fourth-quarter earnings Thursday morning. Here's what you need to know.

PROFIT: Celgene recorded a loss of $81 million, or 10 cents a share, during its latest quarter, compared with a profit of $429 million, or 53 cents a share, for the same quarter the year before. The loss resulted from an income-tax provision of $1.2 billion. On an adjusted basis, the company earned $1.59 billion, or $2 a share, up from $1.29 billion, or $1.61 a share, a year ago. Analysts polled by Thomson Reuters were predicting adjusted earnings per share of $1.97.

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SALES: Revenue rose 17% to $3.48 billion, fueled by sales growth in the U.S. Sales of Revlimid, the company's biggest product by sales, rose 21% to $2.19 billion.

ESTIMATES: Celgene is estimating revenue for 2018 of $14.4 billion to $14.8 billion and adjusted earnings of $8.70 to $8.90 a share.

Shares rose 2.2% premarket.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

January 25, 2018 08:25 ET (13:25 GMT)

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