Pacira: 2Q Earnings Snapshot
Aug. 02, 2018
PARSIPPANY, N.J. (AP) _ Pacira Pharmaceuticals Inc. (PCRX) on Thursday reported second-quarter net income of $2.6 million, after reporting a loss in the same period a year earlier.
The Parsippany, New Jersey-based company said it had net income of 6 cents per share. Earnings, adjusted for one-time gains and costs, were 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The specialty drugmaker posted revenue of $84.1 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $79.6 million.
Pacira shares have decreased 11 percent since the beginning of the year. The stock has increased roughly 4 percent in the last 12 months.