On Feb. 7, MedImmune (NASDAQ:MEDI), which makes the flu vaccine FluMist, among other products, released earnings for the fourth quarter ended Dec. 31.

  • Revenue increased by 7.5% because of growth in the sales of Synagis.
  • The company sold its CytoGam line, recognizing a gain of $49 million, and realized gains of $42 million through the sale of two investments in its venture capital investment portfolio. These one-time events drove the large increase in net income.
  • In 2006, MedImmune repurchased around 11 million shares for $328 million, which was partly financed by convertible senior notes issued in June.
  • The company estimated that revenue will grow by 19% this year.

(Figures in millions, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Sales

$528.7

$492.0

7.5%

Net Profit

$120.7

($22.4)

N/A

EPS

$0.50

($0.09)

N/A

Diluted Shares

242.5

246.4

(1.6%)



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2006

Q4 2005

Change*

Gross Margin

74.1%

71.5%

2.6

Operating Margin

32.8%

(2.2%)

35.0

Net Margin

22.8%

(4.6%)

27.4

*Expressed in percentage points

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Cash + ST Invest.

$1,505.2

$1,471.9

2.3%

Accounts Rec.

$256.6

$284.3

(9.7%)

Inventory

$85.3

$69.4

22.9%



Liabilities

Q4 2006

Q4 2005

Change

Accounts Payable

$45.5

$37.0

23.0%

Long-Term Debt

$1,165.5

$506.2

103.2%



Learn the ways of the balance sheet.

Cash Flow Highlights

No data was available.

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  • Millipore (NYSE:MIL)
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  • Genzyme (NASDAQ:GENZ)

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