Avanir Pharmaceuticals Earnings: Here’s Why Investors Don’t Like These Results
Avanir Pharmaceuticals (NASDAQ:AVNR) had a loss and missed Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.81%.
Avanir Pharmaceuticals Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.12 in the quarter versus EPS of $-0.13 in the year-earlier quarter.
Revenue: Rose 73.31% to $17.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Avanir Pharmaceuticals reported adjusted EPS loss of $0.12 per share. By that measure, the company missed the mean analyst estimate of $-0.09. It met the average revenue estimate of $17.4 million.
Quoting Management: “Avanir achieved a major milestone with the exciting news regarding the positive CHMP opinion for NUEDEXTA in Europe. This is a significant moment in the evolution of the company towards its goal of becoming a leading mid-cap biopharmaceutical company,” said Keith A. Katkin, president and CEO of Avanir. “Additionally, we continue to execute in the U.S. as demonstrated by our commercial and clinical progress. We enter the second half of fiscal 2013 with strong momentum, a broad CNS pipeline and a continued focus on building our business.”
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