On May 2, biopharmaceutical firm Biogen Idec
- Revenue grew by 17.1%, primarily driven by the robust performance of the company's flagship product, Avonex, and royalties from Rituxan, which is marketed by Genentech
(NYSE:DNA) . - The bottom line has increased by a mere 6.9%, on account of a more than 30% rise in research and development expense coupled with higher sales, general, and administrative expenses, which consequently have eroded operating margins.
- The company announced initiation of the phase 3 clinical program for multiple-sclerosis drug BG-12. If successful, this would extend the company's already broad reach in the MS market.
- For fiscal 2007, the company expects diluted EPS in the range of $1.69 to $1.84, excluding any future acquisitions or other transactions.
- For additional information on Biogen's earnings, please see "Biogen's Measured Growth."
(Figures in millions, except per-share data)
Income Statement Highlights
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|
Sales |
$715.9 |
$611.2 |
17.1% |
Net Profit |
$131.5 |
$123.0 |
6.9% |
EPS |
$0.38 |
$0.36 |
5.6% |
Diluted Shares |
344.1 |
345.8 |
(0.5%) |
Get back to basics with the income statement.
Margin Checkup
Q1 2007 |
Q1 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
88.6% |
89.0% |
(0.4) |
Operating Margin |
25.4% |
28.3% |
(2.9) |
Net Margin |
18.4% |
20.1% |
(1.8) |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Cash + Invest. |
$2,513.2 |
$2,550.7 |
(1.5%) |
Accounts Rec. |
$324.6 |
$417.4 |
(22.2%) |
Inventory |
$186.2 |
$191.0 |
(2.5%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
A statement of cash flows was not provided. Boo!
Free cash flow is a Fool's best friend.
Related Foolishness:
Biogen Idec is a Motley Fool Stock Advisor pick. You can check out Tom and David Gardner's flagship newsletter service free for 30 days.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.