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Dendreon Corporation (NASDAQ:DNDN) narrowed its loss in the most recent quarter behind revenue growth. Dendreon is a biotechnology company that discovers, develops, and sells new therapeutics for cancer patients.
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Dendreon Earnings Cheat Sheet for the First Quarter
Results: Loss narrowed to $103.9 million (loss of 70 cents per diluted share) from $112.8 million (loss of 77 cents per share) in the same quarter a year earlier.
Revenue: Rose more than threefold to $82.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dendreon Corporation reported an adjusted net loss of 59 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 65 cents per share. Analysts were expecting revenue of $81.2 million.
Quoting Management: “Dendreon continues to make significant progress in establishing PROVENGE as the foundation of care for men with advanced prostate cancer,” said John H. Johnson, president and chief executive officer. “We are pleased to have exceeded our guidance of low single digit quarter-over-quarter growth and the progress we have made in strengthening our commercial organization.”
Dendreon (NASDAQ:DNDN) has now surpassed analyst estimates for four quarters in a row. It beat the mark by 57 cents in the fourth quarter of the last fiscal year, by 3 cents in the third quarter of the last fiscal year, and by one cent in the second quarter of the last fiscal year.
Looking Forward: Analysts seem more negative about the company’s results for the next quarter than ninety days ago. The average estimate for the second quarter has moved from a loss of 44 cents a share to a loss of 55 cents over the last ninety days. The average estimate for the fiscal year has reached a loss of $2.04 per share, down from a loss of $1.63 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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