Questcor Pharmaceuticals Earnings: Here’s Why the Stock is Falling Now
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) delivered a profit 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 down 5.24%.
Questcor Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 119.15% to $1.03 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Rose 112.47% to $160.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Questcor Pharmaceuticals, Inc. reported adjusted EPS income of $1.03 per share. By that measure, the company beat the mean analyst estimate of $1. It beat the average revenue estimate of $142.58 million.
Quoting Management: “Net sales, net income and cash flow from operations grew sharply in the fourth quarter compared to the prior-year period,” said Don M. Bailey, President and CEO of Questcor. “Additionally, we more than doubled our investment in R&D in 2012 compared to 2011 as we continue to build the body of evidence regarding the unique properties of Acthar and how it may benefit an increasing number of patients who do not respond to other therapies.”
Key Stats (on next page)…