3/9/2010-Shares of Salix Pharmaceuticals (NASDAQ:SLXP) are trading 1.5% lower to $30.75 after hours Tuesday after the company reported a Q4 loss of $0.13, beating consensus estimates for a loss of $0.14.
Revenues for the quarter rose 15.8% to $70.2 million, topping consensus estimates of $68.2 million.
For the first quarter of 2010 the company expects product revenue of about $40 million and a loss of approximately $0.50 per share.
Commenting on the performance of the Company, Adam Derbyshire, Executive Vice President and Chief Financial Officer, stated, "We continue to be pleased with the Company's ongoing product revenue growth. Significant increases in revenue for both XIFAXAN and our bowel cleansers resulted in a 30 percent year-over-year increase in total product revenue for 2009, in line with previously stated revenue guidance. We believe several factors should contribute to an increase in product revenue over the coming years, namely the continued growth of our currently marketed products - including APRISO(TM) and METOZOLV(TM) ODT, our two products launched in 2009; the launch of new product candidates currently in late-stage development; the expanded contribution of rifaximin if additional indications are approved and the further expansion of our product portfolio via development activities, licensing and acquisitions."
Keywords: nasdaq:slpx salix pharmaceuticals earnings Revenue guidance Stock smartrend
Ticker(s): SLXP
