Biogen Idec Results Mixed

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pillsBiogen Idec Inc. (NASDAQ: BIIB) reported fourth-quarter and full-year 2012 results before markets opened this morning. For the quarter, the biotech firm posted adjusted diluted earnings per share (EPS) of $1.40 on revenues of $1.42 billion. In the same period a year ago, the company reported EPS of $1.51 on revenues of $1.33 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.46 EPS and $1.39 billion in revenues.

For the full year, Biogen Idec posted adjusted EPS of $6.53 on revenues of $5.52 billion, compared with EPS of $5.90 on revenues of $5.05 billion in 2011. The consensus estimate called for EPS of $6.58 on revenues of $5.48 billion.

On a GAAP basis, the company reported fourth-quarter EPS of $1.23 and full-year EPS of $5.76.

The company's CEO said:

We recorded another solid year of revenue growth and profitability, all while advancing our late-stage pipeline and investing in upcoming product launches. We are poised to begin what we expect will be a remarkable period of growth, driven by our promising compounds including TECFIDERA and Peginterferon beta-1a for MS, and both Factor VIII and Factor IX for hemophilia

For 2013, Biogen Idec expects revenues to grow approximately 10% and forecasts adjusted EPS at $7.15 to $7.25, compared with analysts' consensus estimate of $7.27.

Biogen Idec's shares are down about 0.1% in premarket trading, at $146.02 in a 52-week range of $114.53 to $157.18. Thomson Reuters had a consensus analyst price target of around $156.70 before today's report.

Filed under: 24/7 Wall St. Wire, Biotech, Earnings Tagged: BIIB
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