Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) Reports 4Q Beat & 2011 Outlook above Consensus

Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) reported fourth fiscal quarter beat and issued strong 2011 EPS guidance 7% above consensus on Monday The Company reported fourth fiscal quarter net income of $24.5 million or 56 cents a share, up 330% year over year from $5.7 million or 17 cents a share in the same quarter last year. The upside in results are largely attributable to slightly higher revenue and lower R&D, partially offset by lower gross margin and higher share count. Excluding items, the company would have earned $27.2 million, or 63 cents a share, compared to $10.8 million, or 33 cents a share, 3 cents above the analysts' estimate of 60 cents a share. Revenue rose 39.43% year over year to $53.4 million from $38.3 million in the year-ago quarter, slightly ahead of the analysts' estimate of $51.05 million. Net sales of Xyrem® (sodium oxybate) oral solution increased 36% to $42.9 million for the fourth quarter of 2010, compared to net sales of $31.6 million for the fourth quarter of 2009. Xyrem experienced 8.3% year over year volume growth in this quarter. Net sales of once-daily Luvox CR® (fluvoxamine maleate) increased to $9.4 million for the fourth quarter of 2010, compared to$5.7 million for the fourth quarter of 2009. The company said that it expects full year 2011 adjusted earnings of $2.70 to $2.90 a share and product sales of $232 million to $245 million, above Street prediction of profit of $2.38 a share on revenue of $224.19 million. Adjusted EPS guidance of $2.70-2.90, reflects 89% year over year growth (at midpoint) and coming in 7% above consensus. The Company forecated  Xyrem sales of $200-210 million for 2011. The Stock gained 40 cents or 1.47% and closed at $27.70 and climbed to the new annual high of $29.73, its annual low being $6.38. 2.31 million shares have been traded, above the dialy average of 14,267 shares. The market capitalization of the stock stands at $1.08 billion with P/E of 37.31 and beta of 3.48. Jazz Pharmaceuticals, Inc. is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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