Auxilium Pharma Q2 Profit Up, Above Estimates

(RTTNews) - Specialty biopharmaceutical company, Auxilium Pharmaceuticals, Inc. (AUXL), Thursday reported an increase in the second-quarter net income, which surpassed analyst estimates. Earnings included a tax gain following the Actient acquisition, as well as 29 percent increase in revenue. The company also updated its full-year revenue guidance.

For the three-month period, the company reported net income of $57.1 million or $1.15 per share, compared with $7.7 million or $0.16 per share during the same period last year. The results include a $92.4 million tax gain.

On a non-GAAP basis, the company reported net income of $11 million, or $0.22 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Auxilium reported net revenues of $100.5 million compared with $78.2 million in the second quarter last year. Analysts expected the company to report revenues of $91.43 million for the quarter.

For the second quarter this year, XIAFLEX U.S. net revenues increased by 26 percent over the comparable 2012 period and U.S. Testim net revenues decreased by 15 percent.

For the year, the company expects to report total revenues of $363 million - $405 million, compared with $360 million - $415 million it expected earlier. Analysts expect the company to generate revenues of $372.73 million.