Continued advancement toward goal of becoming a leading global biotechnology company
Shire (LSE: SHP, NASDAQ: SHPG) announces unaudited results for the three months to March 31, 2015.
|Financial Highlights||Q1 2015||Growth(1)||CER(2)|
|Product sales||$1,423 million||+9%||+13%|
|Total revenues||$1,488 million||+11%||+15%|
|Non GAAP operating income||$683 million||+16%||+19%|
|US GAAP operating income from continuing operations||$475 million||+55%|
|Non GAAP EBITDA margin (excluding royalties & other revenues)(3)||46%||+1pps(4)|
|US GAAP net income margin(5)||28%||+11pps|
|Non GAAP diluted earnings per ADS||$2.84||+20%||+24%|
|US GAAP diluted earnings per ADS||$2.08||+77%|
|Non GAAP cash generation||$516 million||+56%|
|Non GAAP free cash flow||$542 million||+135%|
|US GAAP net cash provided by operating activities||$562 million||+128%|
(1) Percentages compare to equivalent 2014 period.
(2) On a Constant Exchange Rate (“CER”) basis, which is a Non GAAP measure.
(3) Non GAAP earnings before interest, tax, depreciation and amortization (“EBITDA”) as a percentage of product sales, excluding royalties and other revenues.
(4) Percentage point change (“PPS”).
(5) US GAAP net income as a percentage of total revenues.
The Non GAAP financial measures included within this release are explained on page 25, and are reconciled to the most directly comparable financial measures prepared in accordance with US GAAP on pages 19 - 22 of the full release.
During the first quarter, Shire continued to exemplify the characteristics of a leading biotechnology company, delivering strong revenue growth and cash generation, while materially advancing our innovative pipeline and boosting our future growth profile through the acquisition of NPS. Our continued financial performance driven by the strength of our commercial operations, focus on efficiency, and breadth of our innovative pipeline are indicators of our bright future. We remain confident in delivering Non GAAP diluted earnings per ADS growth in the mid-single digits in 2015 (high single digit growth on a CER basis).
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The quarterly earnings presentation will be available today at 13:00 BST / 08:00 EDT on:
Shire.com Investors section
Shire's IR Briefcase in the iTunes Store
Shire enables people with life-altering conditions to lead better lives.
Our strategy is to focus on developing and marketing innovative specialty medicines to meet significant unmet patient needs.
We focus on providing treatments in Rare Diseases, Neuroscience, Gastrointestinal and Internal Medicine and are developing treatments for symptomatic conditions treated by specialist physicians in other targeted therapeutic areas, such as Ophthalmics.
Click here for the PDF version of this press release.