On July 12, Genentech
- Revenues jumped a robust 36.6%, backed by strong performances from the company's flagship cancer drugs, Avastin and Rituxan.
- Avastin and Rituxan will both attain $2 billion in sales this year.
- Genentech initiated eight phase 3 clinical trials in the second quarter.
- For the full year 2007, the company expects 28%-32% growth in non-GAAP EPS.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$3,004.0 |
$2,199.0 |
36.6% |
|
Net Profit |
$747.0 |
$531.0 |
40.7% |
|
EPS |
$0.70 |
$0.49 |
42.9% |
|
Diluted Shares |
1,070.0 |
1,073.0 |
(0.3%) |
Get back to basics with the income statement.
Margin Checkup
|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
85.7% |
87.1% |
(1.4) |
|
Operating Margin |
37.4% |
34.3% |
3.1 |
|
Net Margin |
24.9% |
24.2% |
0.7 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$3,195.0 |
$2,193.0 |
45.7% |
|
Accounts Rec. |
$1,759.0 |
$1,226.0 |
43.5% |
|
Inventory |
$1,365.0 |
$909.0 |
50.2% |
|
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
No Data |
No Data |
No Data |
|
Long-Term Debt |
$2,307.0 |
$2,132.0 |
8.2% |
The balance sheet reflects the company's health.
Cash Flow Highlights
A statement of cash flows was not provided. Too bad, because free cash flow is a Fool's best friend.
Related Foolishness:
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