Pacira: 3Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ Pacira Pharmaceuticals Inc. (PCRX) on Thursday reported a loss of $640,000 in its third quarter.
The Parsippany, New Jersey-based company said it had a loss of 2 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The specialty drugmaker posted revenue of $83.4 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $79.3 million.
Pacira shares have increased nearly 8 percent since the beginning of the year. The stock has risen 53 percent in the last 12 months.