Digene ist mir auch aufgefallen, zu GERN brauchen wir nix mehr schreiben.
SANG springt mir immer wieder ins Auge, haben ein profitables Jahr gemeldet, einen neuen CEO, kommen kräftig zurück seit Wochen , aktuell um 11 Dollar.
http://chart.bigcharts.com/bc3/quickchart/...398&mocktick=1&rand=548"
Gruss E.
SangStat Reports 2002 Revenues of $120.1 Million and Its First Fully Profitable Year
FREMONT, Calif., Feb 11, 2003 /PRNewswire-FirstCall via COMTEX/ -- SangStat Medical Corporation (Nasdaq: SANG) today reported total worldwide revenues for fiscal year (FY) 2002 of $120.1 million and its first fully profitable year. Total revenues in the fourth quarter reached $31.7 million. Sales of its leading immunosuppressive antibody, Thymoglobulin(R) (anti-Thymocyte globulin, rabbit), were $55.2 million in North America (NA) for FY 2002 with record sales in the fourth quarter of $16.6 million.
"With 120 million dollars in revenue, profitability and a strong balance sheet, SangStat has many qualities investors look for in today's market," said Rick Murdock, Interim Chairman, President and CEO. "2003 should be another successful year for SangStat with several opportunities for continued growth."
SangStat generated $1.3 million in net income in the fourth quarter of 2002 and made an equity investment in THP of $3.2 million. In total, SangStat ended the fourth quarter of 2002 with available cash and cash equivalents of $97.5 million and outstanding, long-term debt of $15.9 million.
SangStat has become a profitable biotech company with full year 2002 earnings per share (EPS) of $0.24 and 2003 EPS projected to increase to $0.35 - $0.45 (see 2003 financial guidance below). Fourth quarter EPS of $0.05 was lower than expected and reflects certain downward adjustments and one-time SG&A expenses. Downward adjustments included expenses related to SangStat's collaboration with Therapeutic Human Polyclonals, Inc. (THP) announced on November 11, 2002 (impact of approximately $0.7 million) and lower than expected sales resulting from a possible destocking of Gengraf(TM) (cyclosporine capsules) (impact of approximately $0.9 million). In addition, one-time SG&A expenses including management re-structuring costs in Europe and a provision for a doubtful receivable in Italy reduced fourth quarter EPS by approximately $0.7 million. Downward adjustments in EPS were partially offset by better than expected sales of Thymoglobulin (impact of approx. $0.5 million). In total, these adjustments reduced earnings by approximately six cents per share.
Selling, general and administrative expenses were $10.3 million in the fourth quarter of 2002 compared to $8.8 million in the third quarter of 2002 and $8.3 million in the fourth quarter of 2001. Research and development expenses, including discovery research, regulatory, and clinical expenses, were $5.0 million in the fourth quarter of 2002 versus $4.4 million in the third quarter of 2002 and $4.2 million for the fourth quarter of 2001. Increased R&D spending in the fourth quarter was aimed at supporting the Company's promising development programs and included payment of a technology access fee to THP.
Overall, SangStat's financial results for 2002 exceeded most analysts' assessments from earlier in the year. In February 2002, shortly after a successful public offering, analysts' consensus estimates for 2002 revenues and EPS were $116.2 million and $0.20 respectively. All financial results are subject to change based on full audit and review.
2003 Financial Guidance
SangStat has decided to change the way it gives financial guidance. In the past, SangStat provided quarterly revenue and earnings per share (EPS) guidance for the ensuing quarter during the earnings announcement for the preceding quarter. Going forward, SangStat instead will provide full year, 2003, estimated revenue ranges for Thymoglobulin in North America, Gengraf, combined European/Rest of World sales, other revenue, total projected annual revenue and full year EPS. SangStat also intends to supplement this guidance with product and market assessments from time to time, consistent with the Securities and Exchange Commission's (SEC) regulations on Fair Disclosure. The following chart outlines SangStat's current 2003 financial guidance.
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