BioMarin (BMRN) Q4 Earnings & Sales Miss, Shares Decline
Zacks Investment Research | Feb 21, 2019 09:23PM ET
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) missed estimates for earnings as well as revenues in the fourth quarter of 2018.
The biotech, which makes rare disease drugs, reported adjusted loss of 7 cents per in the fourth quarter in contrast to the Zacks Consensus Estimate of earnings of 10 cents. Adjusted loss per share was 1 cent in the year-ago quarter.
The adjusted loss excludes amortization, depreciation, stock-based compensation and a contingent consideration expense; benefit from income tax; and a gain on sale of intangible assets.
Total revenues were $353.2 million in the reported quarter, down 1% from the year-ago period due to lower product revenues. Moreover, sales also missed the Zacks Consensus Estimate of $380 million.
In response to the poor quarterly performance, shares were down almost 6% in after-hours trading. In the past year, BioMarin’s shares have risen 7% while the .
BioMarin Pharmaceutical Inc. Price, Consensus and EPS Surprise
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