Questcor Misses Q1 Estimates (QCOR)


Questcor Pharmaceuticals Inc.’s (NASDAQ: QCOR) fiscal first-quarter results disappointed the street. The pharmaceutical company reported first quarter results, late last evening, which showed both revenue and adjusted earnings falling short of consensus estimate.

Commenting over the results, President and Chief Executive Don Bailey said in a statement, “Our first quarter results were below our expectations. However, vial shipment activity and prescription levels in MS and rheumatology in late March and throughout April appear to indicate that positive sales momentum has returned.”

The Company said that its latest plan linked to the promotion of its blockbuster treatment H.P. Acthar Gel meant to cure dematomyositis and polymyositis was going working fairly well.

For the first quarter, Questcor posted a profit of $39.06 million or 65 cents a share compared to a net income of $38.54 million or 58 cents a share, in the year-earlier quarter.

Stripping out onetime items, adjusted earnings came at $45.83 million or 76 cents a share compared to $40.61 million or 61 cents a share, in the same quarter of last fiscal.

Analysts polled by Thomson Reuters were expecting earnings of 96 cents a share.

Net sales for the quarter jumped 41% to $135.13 million from $95.97 million, in the year-earlier quarter but missed analysts’ consensus estimate of $157.16. Sales from BioVectra accounted $8.4 million of the entire revenue.

The Company said that sales were mainly boosted by Acthar. The Company said it shipped 4,830 vials of Acthar in the first quarter, up from 4,111 vials shipped in the same quarter of last year.

More Posts by this author


edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...