Bristol-Myers Squibb Company (BMY) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.89 million, or $ 0.53 a share in the quarter, against a net loss of $0.20 million, or $0.12 a share in the last year period. On an adjusted basis, earnings per share were at $0.63 for the quarter compared with $0.38 in the same period last year. Revenue during the quarter grew 22.30 percent to $5.24 million from $4.29 million in the previous year period. Gross margin for the quarter contracted 417 basis points over the previous year period to 73.62 percent. Operating margin for the quarter stood at negative 5.66 percent as compared to a negative 31.77 percent for the previous year period.
Operating loss for the quarter was $0.30 million, compared with an operating loss of $1.36 million in the previous year period.
“Bristol-Myers Squibb achieved outstanding operating and financial results in 2016, driven by strong commercial performance across our portfolio,” said Giovanni Caforio, M.D., chief executive officer, Bristol-Myers Squibb. “In 2017, we will continue to advance our pipeline, drive strong commercial execution across the business and progress our broad portfolio of Immuno-Oncology medicines.”
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