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Dendreon Corp. (NASDAQ:DNDN) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.41%.
Dendreon Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.30 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Decreased 57.7% to $85.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dendreon Corp. reported adjusted EPS loss of $0.30 per share. By that measure, the company beat the mean analyst estimate of $-0.56. It beat the average revenue estimate of $82.88 million.
Quoting Management: “We are pleased to have delivered a strong quarter for community sales,” said John H. Johnson, chairman, president and chief executive officer. “Given the need for increased patient awareness and education, we will build on our direct-to-consumer programs with targeted advertising beginning in the second quarter. As we work to drive the top line, we continue to reduce our cost of goods sold and streamline our cost position, and expect to begin to see net benefits of these actions as early as the first half of 2013.”
Key Stats (on next page)…
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