Biogen Q4 Results Top Estimates; Sees 2019 Results In Line With View

(RTTNews) - Biogen Inc. (BIIB) reported that its net income attributable to the company for the fourth-quarter was $946.8 million or $4.73 per share, compared to a loss of $297.4 million or $1.40 per share in the prior year.

The prior year results were negatively impacted, due to the transition toll tax and re-measurement of our deferred tax assets related to the U.S. corporate tax reform legislation.

Non-GAAP earnings per share was $6.99 compared to $5.26 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $6.73 per share. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $3.53 billion from $3.31 billion last year. Analysts expected revenue of $3.39 billion for the quarter.

Biogen also announced its full year 2019 financial guidance. Revenue is expected to be approximately $13.6 billion to $13.8 billion. GAAP earnings per share is expected to be between $26.65 and $27.65. Non-GAAP earnings per share is expected to be between $28.00 and $29.00. Wall Street currently is looking for fiscal year 2019 earnings of $28.02 per share on annual revenues of $13.65 billion.
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