Ligand Pharmaceuticals Inc Q3 Profit Decreases, but beats estimates

(RTTNews) - Ligand Pharmaceuticals Inc (LGND) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $0.40 million, or $0.02 per share. This compares with $13.72 million, or $0.80 per share, in last year's third quarter.

Excluding items, Ligand Pharmaceuticals Inc reported adjusted earnings of $22.49 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.9% to $66.09 million from $64.84 million last year.

Ligand Pharmaceuticals Inc earnings at a glance (GAAP) :

-Earnings (Q3): $0.40 Mln. vs. $13.72 Mln. last year. -EPS (Q3): $0.02 vs. $0.80 last year. -Analyst Estimates: $0.43 -Revenue (Q3): $66.09 Mln vs. $64.84 Mln last year.

-Guidance: Full year revenue guidance: $184 - $189 Mln