Array BioPharma Outruns Estimates Again
Array BioPharma (NAS: ARRY) reported earnings on Feb. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Array BioPharma beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP loss per share dropped.
Margins increased across the board.
Array BioPharma reported revenue of $23.2 million. The eight analysts polled by S&P Capital IQ foresaw a top line of $21.8 million. Sales were 41% higher than the prior-year quarter's $16.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at -$0.06. The seven earnings estimates compiled by S&P Capital IQ predicted -$0.12 per share. GAAP EPS were -$0.06 for Q2 against -$0.23 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 73.0%, 1,770 basis points better than the prior-year quarter. Operating margin was 0.1%, 5,630 basis points better than the prior-year quarter. Net margin was -16.4%, 5,900 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $19.0 million. On the bottom line, the average EPS estimate is -$0.17.
Next year's average estimate for revenue is $85.8 million. The average EPS estimate is -$0.46.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 216 members out of 225 rating the stock outperform, and nine members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 69 give Array BioPharma a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Array BioPharma is outperform, with an average price target of $4.50.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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