Genentech Inc. (DNA) Profit Rises 21 Percent
Genentech, Inc. (NYSE:DNA - News) today announced financial results for the third quarter of 2007. Key results for the third quarter of 2007 include:
U.S. product sales of $2,155 million, an 18 percent increase over U.S. product sales of $1,830 million in the third quarter of 2006.
Non-GAAP operating revenues of $2,905 million, a 22 percent increase over operating revenues of $2,384 million in the third quarter of 2006(1); GAAP operating revenues of $2,908 million, which include recognition of $3 million of deferred royalty revenue associated with the acquisition of Tanox, Inc.
Non-GAAP net income increase of 22 percent to $778 million from $637 million in the third quarter of 2006(1); GAAP net income increase of 21 percent to $685 million from $568 million reported for the third quarter of 2006.
Non-GAAP earnings per share increase of 24 percent to $0.73 per share from $0.59 per share in the third quarter of 2006(1); GAAP earnings per share increase of 21 percent to $0.64 per share from $0.53 per share reported for the third quarter of 2006.
U.S. product sales of $2,155 million, an 18 percent increase over U.S. product sales of $1,830 million in the third quarter of 2006.
Non-GAAP operating revenues of $2,905 million, a 22 percent increase over operating revenues of $2,384 million in the third quarter of 2006(1); GAAP operating revenues of $2,908 million, which include recognition of $3 million of deferred royalty revenue associated with the acquisition of Tanox, Inc.
Non-GAAP net income increase of 22 percent to $778 million from $637 million in the third quarter of 2006(1); GAAP net income increase of 21 percent to $685 million from $568 million reported for the third quarter of 2006.
Non-GAAP earnings per share increase of 24 percent to $0.73 per share from $0.59 per share in the third quarter of 2006(1); GAAP earnings per share increase of 21 percent to $0.64 per share from $0.53 per share reported for the third quarter of 2006.
Labels: DNA, Genentech Inc.
posted by Stock Administrator @ 6:30 PM
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