Biomarin Pharmaceutical Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Biomarin Pharmaceutical Inc. (BMRN) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $50.9 million, or $0.27 per share. This compares with $120.8 million, or $0.63 per share, in last year's first quarter.

Excluding items, Biomarin Pharmaceutical Inc. reported adjusted earnings of $115.8 million or $0.60 per share for the period.

Analysts on average had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.8% to $596.4 million from $519.4 million last year.

Biomarin Pharmaceutical Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $50.9 Mln. vs. $120.8 Mln. last year. -EPS (Q1): $0.27 vs. $0.63 last year. -Analyst Estimates: $0.18 -Revenue (Q1): $596.4 Mln vs. $519.4 Mln last year.

-Guidance: Full year EPS guidance: $1.80-$2.05 Full year revenue guidance: $2.375-$2.500 bln