United Therapeutics Corporation (UTHR) has reported a 5.45 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $110.30 million, or $2.43 a share in the quarter, compared with $104.60 million, or $2.10 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $187.20 million, or $4.12 a share compared with $189.10 million or $3.80 a share, a year ago.
Revenue during the quarter went up marginally by 1.01 percent to $409 million from $404.90 million in the previous year period. Gross margin for the quarter contracted 70 basis points over the previous year period to 93.06 percent. Total expenses were 57.41 percent of quarterly revenues, down from 61.72 percent for the same period last year. This has led to an improvement of 431 basis points in operating margin to 42.59 percent.
Operating income for the quarter was $174.20 million, compared with $155 million in the previous year period.
"Our annual 2016 financial results reflect continued growth as net revenues reached $1.6 billion and earnings exceeded $700 million," said Martine Rothblatt, Ph.D., United Therapeutics’ Chairman and Chief Executive Officer. "These financial results strengthen our ability to develop and advance our growing product pipeline, which includes seven phase III programs and multiple second generation Remodulin drug delivery systems."
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