AMAG Pharmaceuticals, Inc. AMAG suffered a loss of $596,000 or a loss of $0.02 per share in the second quarter. In comparison, it earned a profit of $33.26 million, or EPS of $0.82, in the year-ago period.
On an adjusted basis, its net income would have been $50.3 million, or $1.45 per share, higher than $44.8 million, or $1.12 per share, in the previous year quarter. This was $0.25 a share more than the analysts' estimate of $1.20.
AMAG reported GAAP revenue of $127.4 million representing 50 percent year-over-year growth. On a non-GAAP basis, its revenues were $132.5 million, up from $90.3 million in the same quarter last year. Street predicted revenue of $128.52 million.
CEO William Heiden commented, "Strong execution, including the recent successful launch of the single-dose, preservative-free formulation of Makena and expanded use of our Makena @Home service, drove 21% sales growth in the second quarter over the first quarter of 2016."
Moving ahead, the company guided non-GAAP revenues in the range of $520-$570 million for the fiscal year 2016. It estimates adjusted net income between $195 and $225 million for the same period. Analysts' are looking for revenues of $533.79 million.
In pre-market trading, the stock edged higher by $1.53, or 5.81 percent, to $26.33.
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