BioMarin Pharma Q3 Net Loss Deepens, Revenue Rises

By Eric Volkman – Oct 24, 2013 at 8:17PM

NASDAQ: BMRN

BioMarin Pharmaceutical

Market Cap

$17B

Today's Change

(0.97%) $0.86

Current Price

$89.49

Price as of April 22, 2024, 4:00 p.m. ET

The company's bottom line worsens by a factor of nearly 10 on a year-over-year basis.

Shares of BioMarin Pharmaceutical (BMRN 0.97%) shares are down in post-market trading following the release of the company's Q3 results. For the quarter, revenue was just under $137 million, or nearly 7% higher than the $128 million it posted in the same period the previous year. Bottom line, however, plunged more deeply into the red, as the firm booked a net loss of $53.0 million ($0.38 per diluted share), against Q3 2012's shortfall of $5.4 million ($0.04).

On average, analysts had been expecting revenue of $140 million and a per-share loss of $0.30.

The company provided forward guidance for fiscal 2013. Total revenue for the year is anticipated to come in at $530 million to $555 million, with a net loss of $160 million to $185 million.http://investors.bmrn.com/releasedetail.cfm?ReleaseID=800324

After the results were announced today, the company's stock dropped by 2.9%, or $1.99, to $66.97 in after-hours trading.

Fool contributor Eric Volkman has no position in BioMarin Pharmaceutical. The Motley Fool recommends BioMarin Pharmaceutical. 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.