Jazz Pharma Posts 12% Increase in Q4 Profit, But Still Misses; Guides Above the Street
Jazz Pharmaceuticals (NASDAQ: JAZZ) reported fourth quarter 2013 results, missing both earnings per share and revenue analyst estimates. Shares are down 7 percent to $162.70 following the report.
The company reported revenue of $235.8 million versus the Street estimate of $238.1 million. Earnings per share of $1.72 missed the analyst consensus estimate of $178. GAAP income from continuing operations for the fourth quarter was $0.90.
Jazz provided full year 2014 guidance of $1.1-$1.16 billion for revenue, slightly above analyst estimates at $1.080 billion. The company expects $8.00-$8.25 in earnings per share for 2014, versus the analyst estimate of $8.07.
While Jazz fell short of analyst expectations, CEO Bruce Cozadd CEO assured the company “delivered strong top-line growth, generated significant cash flow and executed on the corporate development strategy.”
In a separate press release, Jazz announced CFO Kathryn Falberg resigned from the company. Matthew Young was named as replacement.
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