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Jazz Pharmaceuticals Announces Full Year And Fourth Quarter 2018 Financial Results

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DUBLIN, Feb. 26, 2019 /PRNewswire/ -- Jazz Pharmaceuticals plc (NASDAQ:JAZZ) today announced financial results for the full year and the fourth quarter of 2018 and provided financial guidance for 2019.

"Our evolution as a global biopharmaceutical company continued in 2018 as we delivered another year of record revenues and made substantial progress on key milestones, including advancing multiple pre-clinical, early- and late-stage development programs. We also initiated a broad development program to generate data for Vyxeos in new AML patient populations and other hematologic malignancies," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. "In 2019, our strong financial position and scalable operations provide a foundation for further growth as we focus on key regulatory approvals, planned product launches, our development pipeline and multiple initiatives to maximize our commercial portfolio."

GAAP net income for 2018 was $447.1 million, or $7.30 per diluted share, compared to $487.8 million, or $7.96 per diluted share, for 2017. GAAP net income for the fourth quarter of 2018 was $159.5 million, or $2.64 per diluted share, compared to $232.2 million, or $3.79 per diluted share, for the fourth quarter of 2017. 2017 GAAP net income, for the full year and the fourth quarter, included a net tax benefit of $148.8 million, or $2.43 per diluted share, related to enactment of the U.S. Tax Cuts and Jobs Act (U.S. Tax Act).

Adjusted net income for 2018 was $838.6 million, or $13.70 per diluted share, compared to $676.7 million, or $11.04 per diluted share, for 2017. Adjusted net income for the fourth quarter of 2018 was $220.0 million, or $3.64 per diluted share, compared to $180.5 million, or $2.95 per diluted share, for the fourth quarter of 2017. Reconciliations of applicable GAAP reported to non-GAAP adjusted information are included at the end of this press release.

Financial Highlights
























Three Months Ended
December 31,




Year Ended
December 31,



(In thousands, except per share amounts and percentages)

2018


2017


Change


2018


2017


Change

Total revenues

$

476,457



$

436,399



9

%


$

1,890,922



$

1,618,693



17

%

GAAP net income

$

159,470



$

232,207



(31)

%


$

447,098



$

487,848



(8)

%

Adjusted net income

$

219,951



$

180,493



22

%


$

838,613



$

676,718



24

%

GAAP EPS

$

2.64



$

3.79



(30)

%


$

7.30



$

7.96



(8)

%

Adjusted EPS

$

3.64



$

2.95



23

%


$

13.70



$

11.04



24

%

 

Total Revenues


















Three Months Ended
December 31,


Year Ended
December 31,

(In thousands)

2018


2017


2018


2017

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