WASHINGTON (dpa-AFX) - (Adds Outlook)
Looking ahead, for the full year, Novavax, Inc. (NVAX) has lowered its revenue guidance below analysts' expectations.
The company now projects annual revenue of $400 million to $600 million against its previous outlook of $800 million to $1 billion. Analysts, on average, expect the firm to record revenue of $845.49 million, for the year.
Q1 Results:
Novavax reported loss for first quarter that decreased from last year and beat the Street estimates.
The company's bottom line came in at -$147.550 million, or -$1.05 per share. This compares with -$293.905 million, or -$3.41 per share, in last year's first quarter.
Analysts on average had expected the company to earn -$1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 15.9% to $93.855 million from $80.951 million last year.
Novavax Inc. earnings at a glance (GAAP) :
-Earnings (Q1): -$147.550 Mln. vs. -$293.905 Mln. last year. -EPS (Q1): -$1.05 vs. -$3.41 last year. -Revenue (Q1): $93.855 Mln vs. $80.951 Mln last year.
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