Health and Healthcare
Gilead Sciences... The Beat Goes On (GILD)
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Gilead Sciences, Inc. (NASDAQ: GILD) posted results after the close today. Its Q1 revenues surged to $1.26 billion and non-GAAP earnings was $522.1 million, or $0.54 EPS. First Call had estimates at $0.48 EPS on $1.22 billion in revenues.
Gilead had cash and equivalents of $2.59 billion and generated $577.1 million of operating cash flows, which was offset by repurchases of $815.8 million of common stock. As of March 31, 2008, Gilead had approximately $2.15 billion remaining under this share repurchase program.
Its own product sales accounted for $1.14 Billion in Q1 revenues, up 36% because of a strong HIV franchise led by the continued strong uptake of Atripla.
Shares closed up 1.4% at $51.80 in normal trading, and shares rose 2.8% to $53.26 in after-hours trading. Its 52-week trading had been $35.22 to $53.20. Despite a 10-fold to 20-fold gain this decade, the company just keeps doing better and better.
Jon C. Ogg
April 16, 2008
Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at [email protected] and he does not own securities in the companies he covers.
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