Horizon Pharma Q1 Loss Widens On Charge, Revenue Surges - Quick Facts

(RTTNews) - Horizon Pharma Inc. (HZNP) said first-quarter net loss widened to $206.25 million or $3.07 per share from $22.17 million or $0.36 per share in the previous year.

The latest results included a non-cash charge of $204.0 million related to the increase in fair value of the embedded derivative associated with the company's convertible senior notes due to an increase in the market value of the company's common stock during the first quarter.

Adjusted earnings totaled $0.08 per share, compared to a loss of $0.30 per share last year.

On average, five analysts polled by Thomson Reuters expected earnings f $0.01 per share. Analysts' estimates typically exclude special items.

Net sales increased to $51.93 million from $8.69 million in the prior year. Analysts estimated revenues of $42.69 million.

Total operating expenses climbed to $42.72 million from $23.47 million.

For 2014, the company expects net revenues in the range of $270 million to $280 million. The previos projection was for revenues of $190 million to $205 million.