SciClone Pharmaceuticals (SCLN) Makes A Profit
Shares in SciClone Pharmaceuticals (SCLN) are up 25% to $4.42, and they should be. The company showed a profit in the last quarter.
Revenues for the quarter grew 59% to $22.0 million compared with the same period in 2008. SciClone reported net income of $7.3 million or $0.16 per share on a basic and diluted basis, compared with a net loss of $0.3 million, or $0.01 per share for the same period of last year.
SciClone is updating its financial guidance for 2009. The Company anticipates full year 2009 revenues of between $69 and $71 million, an increase of approximately 28% to 31% over 2008. SciClone anticipates earnings per share for the full year 2009 to be between $0.10 and $0.14
The company is sitting on about $22 million in cash, so it appears that the firm’s prosperity should continue.
Douglas A. McIntyre
