Biogen Idec Results Mixed

For the full year, Biogen Idec posted adjusted EPS of $6.53 on revenues of $5.52 billion, compared with EPS of $5.90 on revenues of $5.05 billion in 2011. The consensus estimate called for EPS of $6.58 on revenues of $5.48 billion.

On a GAAP basis, the company reported fourth-quarter EPS of $1.23 and full-year EPS of $5.76.

The company’s CEO said:

We recorded another solid year of revenue growth and profitability, all while advancing our late-stage pipeline and investing in upcoming product launches. We are poised to begin what we expect will be a remarkable period of growth, driven by our promising compounds including TECFIDERA and Peginterferon beta-1a for MS, and both Factor VIII and Factor IX for hemophilia

For 2013, Biogen Idec expects revenues to grow approximately 10% and forecasts adjusted EPS at $7.15 to $7.25, compared with analysts’ consensus estimate of $7.27.

Biogen Idec’s shares are down about 0.1% in premarket trading, at $146.02 in a 52-week range of $114.53 to $157.18. Thomson Reuters had a consensus analyst price target of around $156.70 before today’s report.