Biotech Values

[DewDiligence]

Talecris Shares Stumbles on Earnings Shortfall

[TLCR is the plasma-protein company CSL Behring tried to acquire, but the deal was nixed by the antitrust cops. TLCR IPO’d at $19/sh in Sep 2009, when insiders concurrently unloaded $400M of their own stock (#msg-42015380). The company sports an enterprise value of about $4B.]

http://finance.yahoo.com/news/Talecris-shares-stumble-after-apf-2307202087.html?x=0&.v=1

›Wednesday February 24, 2010, 1:41 pm EST

RESEARCH TRIANGLE PARK, N.C. (AP) -- Shares of Talecris Biotherapeutics Holdings Corp. fell in trading Wednesday, a day after the biotechnology company said an after-tax charge wiped out much of its fourth-quarter profit.

Talecris said it earned $1.4 million, or a penny per share, in the final quarter of 2009, down from $26.2 million, or 28 cents per share, in the last quarter of 2008.

Revenue fell 3 percent to $390 million.

The final three months of this year included a $26.3 million charge, or 21 cents per share, tied to debt refinancing transactions. Operating expenses also rose 11 percent to $95 million due mainly to $7.6 million in charitable donations and expenses related to a sales force expansion.

Based in Research Triangle Park, N.C., Talecris develops treatments for immune deficiencies and hemophilia, among other therapeutic areas.

For the full year, the company earned $153.9 million, or $1.50 per share, more than double the previous year's profit of $65.8 million.

Revenue for the year rose to $1.53 billion from $1.37 billion.

Talecris expects earnings per diluted share in the range of $1.42 to $1.50 for 2010, with revenue climbing to between $1.62 and $1.65 billion. Analysts expect earnings of $1.57 per share on $1.63 billion in revenue.‹