Jazz Pharma Posts Q1 Loss On Milestone Payment - Quick Facts

(RTTNews) - Jazz Pharmaceuticals plc (JAZZ) reported a first-quarter GAAP net loss attributable to company of $92.7 million, or $1.58 per share, compared to net income of $43.4 million, or $0.71 per share, previous year. The company noted that its net loss for the quarter included an upfront license fee and milestone payment of $127.0 million for JZP-110. Non-GAAP adjusted net income attributable to Jazz was $100.85 million or $1.61 per share, for the quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.79 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $246.9 million, an increase of 26% over $196.2 million, prior year. The company said this increase was driven primarily by net product sales of Xyrem (sodium oxybate) oral solution, Erwinaze/Erwinase and defibrotide, marketed under the name Defitelio (defibrotide) in Europe. Analysts expected revenue of $254.86 million for the quarter.

Jazz Pharma reaffirmed and updated its financial guidance for 2014. The company expects: revenues to be between $1.10 billion-$1.16 billion; GAAP EPS of $1.81-$2.30; and non-GAAP EPS of $8.00-$8.25. Analysts expect the company to report 2014 profit per share of of $8.20 on revenue of $1.13 billion.