Revenue during the quarter grew 19.22 percent to $56.28 million from $47.21 million in the previous year period. Gross margin for the quarter expanded 1944 basis points over the previous year period to 70 percent. Operating margin for the quarter period stood at positive 19.30 percent as compared to a negative 1.07 percent for the previous year period.

Operating income for the quarter was $10.86 million, compared with an operating loss of $0.50 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $27.95 million compared with $20.23 million in the prior year period. At the same time, adjusted EBITDA margin improved 682 basis points in the quarter to 49.67 percent from 42.85 percent in the last year period.

“These results demonstrate a strong start to 2017, highlighted by a continued increase in revenue that demonstrates the strength of our base business,” said Peter Greenleaf, chairman and chief executive officer of Sucampo. “Our recent acquisition of Vtesse Inc. has provided Sucampo with a late-stage asset with the potential to make an important difference in the lives of those affected by Niemann-Pick Disease Type C1, an orphan disease for which there are currently no approved treatments in the U.S., and to ultimately add value for shareholders. Also, today we are reiterating our confidence in the revised guidance issued following the acquisition of Vtesse, and we believe that our strong cash flows from operations allow for additional, future investment opportunities.”

Sucampo Pharmaceuticals projects revenue to be in the range of $220 million to $230 million for financial year 2017. For the fiscal year 2017, Sucampo Pharmaceuticals forecasts adjusted net income to be in the range of $56 million to $66 million. For financial year 2017, the company forecasts diluted earnings per share to be in the range of $1 to $1.10 on adjusted basis.