Pharmacyclics Slips To Q2 Loss

(RTTNews) - Pharmacyclics, Inc. (PCYC) reported a net loss for the second quarter of $37.1 million or $0.49 per share, compared to net income of $12.4 million or $0.16 per share for the year-ago quarter.

Excluding items, adjusted net loss for the second quarter was $19.7 million or $0.26 per share, compared to adjusted net income of $19.2 million or $0.25 per share in the prior year quarter.

Total revenue for the second quarter jumped to $113.0 million from $54.7 million a year ago, mainly due to IMBRUVICA net product revenue of $109.5 million.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share on revenue of $97.32 million for the second quarter. Analysts' estimates typically exclude special items.