Pernix Therapeutics Holdings Goes Red

Pernix Therapeutics Holdings (Nasdaq: PTX  ) reported earnings on March 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Pernix Therapeutics Holdings whiffed on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share shrank to a loss. GAAP earnings per share dropped to a loss.

Margins dropped across the board.

Revenue details
Pernix Therapeutics Holdings reported revenue of $18.2 million. The six analysts polled by S&P Capital IQ expected a top line of $23.4 million on the same basis. GAAP reported sales were 15% lower than the prior-year quarter's $21.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.03. The six earnings estimates compiled by S&P Capital IQ anticipated $0.03 per share. Non-GAAP EPS were -$0.03 for Q4 versus $0.16 per share for the prior-year quarter. GAAP EPS were -$0.05 for Q4 compared to $0.14 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 58.7%, much worse than the prior-year quarter. Operating margin was -8.6%, much worse than the prior-year quarter. Net margin was -7.7%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $28.3 million. On the bottom line, the average EPS estimate is -$0.05.

Next year's average estimate for revenue is $119.7 million. The average EPS estimate is -$0.11.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pernix Therapeutics Holdings is outperform, with an average price target of $12.40.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On March 20, 2013, at 12:36 PM, frankposting wrote:

    The article is interesting one. It reveals the financial weaknesses of PTX. I believe those weaknesses are primarily due to the difficulties from the aggressive acquisitions.

    The future of PTX is depending on how successful the ongoing integration will be.

    The commercial background makes the CEO to be suitable of handling the integration crises.

    However, I doubt the accuracy of the predictions for future EPS (-0.05 for next quarter and -0.11 for next year) in the article. The current consensus is +0.06 for Mar13 quarter, and +0.37 for 2013.

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