SciClone Pharmaceuticals Earnings: Here’s Why Shares are Down Now
SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) 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 1.52%.
SciClone Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 78.95% to $0.04 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 15.47% to $33.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SciClone Pharmaceuticals, Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.12. It missed the average revenue estimate of $35.3 million.
Quoting Management: Commented Friedhelm Blobel, Ph.D., SciClone Chief Executive Officer: “In the fourth quarter, while we saw the impact on our revenue from the ZADAXIN® channel inventory build-up that occurred primarily in the third quarter of last year, we also continued to make good progress in implementing important personnel, strategic, and operational improvements designed to reestablish the foundation for our continued revenue and profitability growth. Key to our progress has been strengthening our organization with new senior management in China and a re-energized ZADAXIN sales force committed to achieving our growth and financial goals while maintaining our commitment to act in compliance with all legal and regulatory requirements. We believe we are emerging from our second-half 2012 challenges as a stronger and more execution-focused company. We believe that our business fundamentals remain strong, and that our excellent cash position at the end of 2012 is an important asset that provides significant flexibility to accomplish our growth objectives.”
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