Celgene's Shares Dip Lower Following Q4 Print

Shares of Celgene Corporation CELG were trading lower by nearly 2 percent at $100.49 early Thursday morning after the company reported its fourth quarter results. Celgene said that it earned $1.18 per share in the fourth quarter on revenue of $2.539 billion. Wall Street analysts were expecting the company to earn $1.22 per share on revenue of $2.54 billion. Adjusted net income for the quarter rose 14 percent from a year ago to $961 million. Total sales for the full fiscal year 2015 was $9.256 billion, marking a 21 percent increase from 2014. Adjusted net income for the full fiscal year increased 25 percent from 2014 and totaled $3.882 billion. "Celgene delivered outstanding operating and financial results in 2015. Our extraordinary operating momentum and key regulatory approvals in 2015 increase our prospects for significant growth in 2016 and beyond," said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. "In 2016, we will continue to leverage our global operations and advance our deep and diverse pipeline to accelerate the next generation of transformational medicines." Looking forward to fiscal 2016, Celgene expects to earn $5.50 to $5.70 per share on revenue of $10.5 billion to $11 billion. Wall Street analysts were projecting the company to earn $5.69 per share on revenue of $11.13 billion in the full fiscal year.