On Oct. 25, ImClone Systems
- Revenues missed analysts' estimates by 6.8%, while EPS exceeded the estimates by $0.20.
- EPS increased 85.7% to $0.65 because of great top-line performance.
- Revenues increased 41.5%, primarily because of a large uptick in royalty revenue.
- Gross margins declined 756 basis points on account of a huge increase in cost of manufacturing revenue.
- Operating margins greatly improved thanks to robust revenue growth and restrained spending.
- Cash increased 25.6% to $991.0 million.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|---|
|
Sales |
$162 |
$150.7 |
$106.5 |
41.5% |
|
Net Profit |
-- |
$57.3 |
$31.0 |
85.2% |
|
EPS |
$0.45 |
$0.65 |
$0.35 |
85.7% |
|
Diluted Shares |
-- |
91.9 |
92.1 |
(0.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin** |
75.29% |
82.85% |
(7.6%) |
|
Operating Margin |
38.19% |
24.65% |
13.5% |
|
Net Margin |
38.06% |
29.06% |
9% |
**Cost of manufacturing revenue assumed as COGS.
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$991.5 |
$790 |
25.6% |
|
Accounts Rec. |
N/A |
$66.5 |
N/A |
|
Inventory |
$58.9 |
$73.2 |
(19.5%) |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
N/A |
$40.2 |
N/A |
|
Long-Term Debt |
$603.6 |
$600 |
0.6% |
Learn the ways of the balance sheet.
Cash Flow Highlights
No cash flow statement provided. Boo!
Find out why Fools always follow the money.
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Related Foolishness:
- Earnings Soothe ImClone Investors
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