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Biomarin Q2'19 profit declines by 14.1% YOY

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Biomarin Q2'19 profit declines by 14.1% YOY

BioMarin Pharmaceutical Inc. said its second-quarter non-GAAP income amounted to $17.1 million, a decrease of 14.1% from $19.9 million in the prior-year period.

The S&P Global Market intelligence consensus EPS normalized estimate was 19 cents.

Revenues grew on an annual basis to $387.8 million from $372.8 million in the year-ago period.

GAAP net loss increased 122.6% on an annual basis to $37.4 million, or 21 cents per share, from net loss of $16.8 million, or 9 cents per share.

The company, which develops and commercializes treatments for serious and life-threatening diseases, forecasts non-GAAP income in the range of $130 million to $170 million for the full year, steady with the previous guidance.

San Rafael, Calif.-based BioMarin also maintained its 2019 full-year guidance for a GAAP net loss in the range of $45 million to $85 million and expectations of revenue between $1.68 billion and $1.75 billion.