Millennium Reports First Quarter 1998 Financial Results
CAMBRIDGE, Mass., April 29 /PRNewswire/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM - news), today
reported consolidated financial results for the first quarter ended March 31, 1998.
Revenues under the Company's strategic alliances increased to $21,043,000 for the first quarter of 1998 compared to $10,956,000 for the first quarter of 1997. The net loss for the first quarter of 1998 was $4,426,000, or basic net loss per share of $0.15, compared to a net loss of $87,419,000 or basic net loss per share of $3.29, for the quarter ended March 31, 1997. Included in the net loss for the first quarter of 1997 was a one-time charge of $83,800,000 for acquired in-process research and development related to the ChemGenics Pharmaceuticals Inc. acquisition. Excluding the one-time charge, the net loss for the first quarter of 1997 was $3,619,000, or basic net loss per share of $0.14. Expenditures on research and development for the first quarter of 1998 were $22,429,000 versus $11,600,000 for the first quarter of 1997. As of March 31, 1998, Millennium had over $86 million in cash, cash equivalents and investments.
biz.yahoo.com
The projected loss was 24 cents so MLNM "beat" earnings by quite a bit. Revenues double over last year, although these fluctuate a lot with payments timing. IMO, looks good. |
