Not great
Sepracor Announces First Quarter 2007 Results
Tuesday April 24, 7:00 am ET
MARLBOROUGH, Mass.--(BUSINESS WIRE)--Sepracor Inc. (Nasdaq: SEPR - News) today announced its consolidated financial results for the first quarter of 2007.
For the three months ended March 31, 2007, Sepracor's consolidated revenues were approximately $331.4 million, of which revenues from Sepracor's pharmaceutical product sales were approximately $321.3 million (XOPENEX® brand levalbuterol HCl Inhalation Solution revenues were $152.5 million, XOPENEX HFA® brand levalbuterol tartrate Inhalation Aerosol revenues were $20.5 million and LUNESTA® brand eszopiclone revenues were $148.3 million). Net income for the first quarter of 2007 was approximately $22.5 million, or $0.19 per diluted share. Included in the first quarter 2007 results is an after-tax charge of $32.9 million, or $0.28 per diluted share, related to the preliminary settlement of two class action lawsuits described below. These consolidated results compare with consolidated revenues for the first quarter of 2006 of approximately $285.7 million, of which revenues from Sepracor's pharmaceutical product sales were approximately $277.5 million (XOPENEX Inhalation Solution revenues were $134.1 million, XOPENEX HFA revenues were $5.3 million and LUNESTA revenues were $138.1 million). Net income for the first quarter of 2006 was approximately $10.0 million, or $0.09 per diluted share.
Sepracor repaid all of its outstanding 5% convertible subordinated debentures (approximately $451.0 million, including $11.0 million in interest) when they came due on February 15, 2007. As of March 31, 2007, Sepracor had approximately $830.3 million in cash and short- and long-term
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