Supernus Pharmaceuticals, Inc. (SUPN) has reported an 108.96 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $14.32 million, or $0.26 a share in the quarter, compared with $6.85 million, or $0.14 a share for the same period last year.
Revenue during the quarter surged 42.77 percent to $62.37 million from $43.69 million in the previous year period. Gross margin for the quarter expanded 35 basis points over the previous year period to 93.95 percent. Total expenses were 73.87 percent of quarterly revenues, down from 81.96 percent for the same period last year. This has led to an improvement of 809 basis points in operating margin to 26.13 percent.
Operating income for the quarter was $16.30 million, compared with $7.88 million in the previous year period.
"2016 was another year of strong commercial performance with full year net product sales growth of 46% and an increase in operating income of 160% over full year 2015", said Jack Khattar, president and chief executive officer of Supernus Pharmaceuticals. "This growth was achieved while we continued to advance our pipeline and prepare for the launch of the migraine indication for Trokendi XR." Khattar added, "In addition, we continued to vigorously defend our novel products and build upon our strong intellectual property position, as evidenced by the favorable court rulings on Oxtellar XR and the issuance of four U.S. patents for Trokendi XR and Oxtellar XR over the past 12 months. We have established a solid foundation for sustainable growth, and we expect 2017 to be another year of strong net product sales and operating income growth."
For fiscal year 2017, Supernus Pharmaceuticals, Inc. expects revenue to be in the range of $265 million to $275 million. The company expects operating income to be in the range of $75 million to $80 million.
Debt comes down significantly
Supernus Pharmaceuticals, Inc. has recorded a decline in total debt over the last one year. It stood at $4.16 million as on Dec. 31, 2016, down 41.21 percent or $2.92 million from $7.08 million on Dec. 31, 2015. Supernus Pharmaceuticals, Inc. has recorded a decline in long-term debt over the last one year. It stood at $4.16 million as on Dec. 31, 2016, down 41.21 percent or $2.92 million from $7.08 million on Dec. 31, 2015. Total debt was 1.35 percent of total assets as on Dec. 31, 2016, compared with 3.75 percent on Dec. 31, 2015. Debt to equity ratio was at 0.02 as on Dec. 31, 2016, down from 0.06 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 493.82 for the quarter from 35.03 for the same period last year.
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