SUMMIT (dpa-AFX) - Celgene Corp. (CELG) reported a growth in its first-quarter net income to $402 million or $0.90 per share from $256 million or $0.54 per share, with non-GAAP net income rising to $484.4 million or $1.08 per share from $393.39 million or $0.83 per share in the first quarter of 2011. On average, 25 analysts polled by Thomson Reuters expected earnings per share of $1.13 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenue for the quarter advanced to $1.27 billion from $1.125 billion in the prior-year period. Analysts estimated revenues of $1.32 billion for the quarter.
For 2012, the company still expects non-GAAP earnings per share to increase around 25% year-over-year to a range of $4.70 - $4.80, and non-GAAP total revenue to increase approximately 15% year-over-year to a range of $5.4 billion - $5.6 billion. Analysts project earnings of $4.83 per share on $5.53 billion revenue for the same year.
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