Cubist Pharma. Q1 Profit Surges

(RTTNews) - Cubist Pharmaceuticals, Inc. (CBST) Tuesday reported first-quarter net income of $24.2 million or $0.30 per share, compared to $6.1 million or $0.09 per share in the same period last year.

Adjusted earnings for the quarter was $7.8 million or $0.10 per share, down from $26.2 million or $0.34 per share in the prior year period.

On average, 14 analysts polled by Thomson Reuters expected the company to report a profit of $0.00 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $261.23 million from $229.93 million last year. Analysts expected revenues of $285.24 million.