Alkermes, Inc. (ALKS)

[surf1944]

7:11AM Alkermes beats by $0.07, beats on revs; raises FY13 EPS, rev guidance above consensus (ALKS) 18.52 : Reports Q2 (Sep) earnings of $0.17 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 72.2% year/year to $124 mln vs the $122.49 mln consensus.

Co raises guidance for FY13, sees EPS of $0.88-1.02 vs. $0.77 Capital IQ Consensus Estimate; sees FY13 revs of $510-540 mln vs. $519.09 mln Capital IQ Consensus Estimate.
"In September, we updated our expectations for improved non-GAAP net income and free cash flow for fiscal 2013, reflecting the impact of the successful refinancing of the term loans used to fund the merger. Today, we are further improving our financial expectations for fiscal 2013 based on strong operational performance in the first six months, and we now expect Alkermes to generate between $120 million and $140 million in non-GAAP net income this fiscal year."