Emergent BioSolutions 4Q profit surges on BioThrax
Emergent BioSolutions Inc. said Thursday its fourth-quarter profit surged on sales of its anthrax treatment BioThrax.
The company earned $26.2 million, or 76 cents per share, compared with $4.2 million, or 13 cents per share, during the same period a year prior. Revenue nearly doubled to $103.2 million from $53.8 million.
Analysts polled by FactSet expected earnings of 68 cents per share on $102 million in revenue.
For the full year, the company earned $51.7 million, or $1.59 per share, compared with $31.1 million, or 99 cents per share, in 2009. Revenue rose to $286.2 million from $234.8 million.
Looking ahead, the company expects 2011 revenue between $320 million and $340 million and net income of $35 million to $45 million. Analysts expect $326.3 million in revenue and net income of $42 million.
Shares of Emergent fell 42 cents to close at $22.49.