SciClone Updates 2011 Revenue Guidance to $134M vs $132.59 Est; Provides 2012 Revenue Guidance of $165170M vs $165.59M
SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) today announced its anticipated full-year 2011 revenues and year-end cash position, and provided its 2012 initial revenue and year-end cash guidance as follows:
For 2011, the Company anticipates revenues of approximately $134 million (unaudited) including revenues of NovaMed Pharmaceuticals, Inc. (NovaMed) following the acquisition in April 2011, a 57% increase over 2010.
Cash and investments are anticipated to be approximately $66 million (unaudited) at December 31, 2011, compared with $57 million at December 31, 2010. During 2011 the Company used cash of approximately $25 million (unaudited) for the acquisition of NovaMed and approximately $4 million (unaudited) for repurchases of Company Stock.
The Company anticipates 2012 sales revenue of $165 to $170 million, approximately a 25% increase over 2011.
The Company anticipates 2012 year-end cash and investments balances to be greater than $85 million excluding any impacts on cash balances associated with the Company's acquisition of new products and ongoing stock repurchase program.
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