Incyte Corporation (INCY)

[surf1944]

7:05AM Incyte beats by $0.05, beats on revs (INCY) 24.92 : Reports Q2 (Jun) earnings of $0.03 per share, $0.05 better than the Capital IQ Consensus Estimate of ($0.02); revenues rose 414.9% year/year to $86.5 mln vs the $83.89 mln consensus. The Company anticipates that revenues from Jakafi net product sales will be in the range of $120 million to $135 million in 2012. This net product revenue guidance assumes the Company adopts the sell-in method for revenue recognition in the third or fourth quarter of 2012. Therefore, this guidance includes the recognition of net product deferred revenue as of the time of adoption of the sell-in method. As of June 30, 2012, net product deferred revenue was $9.0 million.