United Therapeutics Q3 Profit Down - Quick Facts

(RTTNews) - Drug manufacturer United Therapeutics Corp. (UTHR), reported a decrease in third-quarter net income, in spite of higher revenues, that were offset by increase in expenses.

For the three-month period, the company reported net income of $62.6 million or $1.17 per share, compared with $78.1 million or $1.46 per share last year. Non-GAAP earnings were $2.78 per share, compared with $2.25 per share last year.

On average, twelve analysts polled by Thomson Reuters expected the company to report earnings per share of $1.59 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter increased to $302.2 million, from prior year's $242.4 million. Analysts expected the company to generate revenues of $279.02 million for the quarter.

Total operating expenses were $197.5 million, compared with $161.7 million a year ago.

Looking forward, the company said it now expects the revenue for its three commercial products, Remodulin, Tyvaso and Adcirca, to exceed the upper end of its previous guidance range of $1.05 billion.