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BioMarin Q3 profit climbs 28.7% YOY

BioMarin Pharmaceutical Inc. said its non-GAAP income for the third quarter was $78.1 million, an increase of 28.7% from $60.7 million in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 34 cents.

Total revenue climbed 17.7% year over year to $461.1 million from $391.7 million.

GAAP net income came to $55 million, or 30 cents per share, compared with a loss of $12.6 million, or 7 cents per share, in the year-earlier period.

The San Rafael, Calif.-based company expects non-GAAP income in the range of $150 million to $170 million for the full year 2019, compared with previous guidance in the range of $130 million to $170 million.

BioMarin, which develops and commercializes treatments for serious and life-threatening diseases, expects GAAP net loss in the range of $45 million to $65 million for the full year, compared with previous guidance of a loss in the range of $45 million to $85 million.