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Sepracor Inc. Reports Strong Second Quarter 2009 Operating Results and Increases Financial Guidance for 2009
Sepracor, 07/29/09
Sepracor Inc. announced its consolidated financial results for the second quarter and first half of 2009. For the three months ended June 2009, total revenues increased 11% to approximately $326.2 million compared to $294.1 million for the same period in 2008. The 2009 period includes $16.9 million of previously deferred license revenue accelerated as a result of the termination of the LUNIVIA agreement with GlaxoSmithKline. GAAP net income for the three months ended June 2009 was approximately $44.9 million, or $0.39 per diluted share, compared to $380.9 million, or $3.28 per diluted share, for the same quarter in 2008.
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