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
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