Questcor Pharmaceuticals Earnings:Here’s Why the Stock is Falling Now
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.
Questcor Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 24.59% to $0.76 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Rose 40.8% to $135.13 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Questcor Pharmaceuticals, Inc. reported adjusted EPS income of $0.76 per share. By that measure, the company missed the mean analyst estimate of $0.96. It missed the average revenue estimate of $157.16 million.
Quoting Management: “Our first quarter results were below our expectations,” said Don M. Bailey, President and CEO of Questcor. “However, vial shipment activity and prescription levels in MS and rheumatology in late March and throughout April appear to indicate that positive sales momentum has returned. In particular, we note that our newest initiative related to the promotion of Acthar for dematomyositis and polymyositis is off to a strong start.”
Key Stats (on next page)…