DUBLIN (dpa-AFX) - Biopharmaceutical company Alkermes plc (ALKS) Wednesday reported a profit for the third quarter, compared with a loss in the previous year, primarily helped by higher product sales. The company's earnings as well as revenue beat analysts' view.
Alkermes posted a profit of $47.76 million or $0.28 per share for the third quarter, compared with a loss of $63.97 million or $0.39 per share in the same quarter a year ago, primarily driven by higher product sales.
Excluding one-time items, earnings were $0.64 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.43 per share.
Revenue for the quarter increased to $380.94 million from $252.36 million last year. The consensus estimate was for $362.15 million.
Looking forward, Alkermes has backed its outlook for the full year. In June, the company had raised earnings outlook to $225 million- $265 million and earnings per share guidance to $1.31 - $1.54.
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