Cubist Pharma Q2 Profit Decreases - Quick Facts

(RTTNews) - Cubist Pharmaceuticals, Inc. (CBST) reported that its second-quarter net income decreased to $15.24 million or $0.23 per share, from $43.12 million or $0.58 per share last year. Non-GAAP net income decreased to $33.02 million or $0.42 per share, from $44.27 million or $0.56 per share last year.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues rose to $258.78 million from $230.57 million last year. Analysts expected revenue of $254.73 million for the quarter.

Research and development expenses for the quarter rose to $115.19 million from $67.21 million prior year.