SILVER SPRING, Md., July 26, 2012 /PRNewswire/ -- United Therapeutics Corporation (NASDAQ: UTHR) today announced its financial results for the second quarter ended June 30, 2012.
"I am pleased with our second quarter results, which reflect the continued strength of our core business," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "I am also pleased that our Board authorized an additional $100 million share repurchase program to return further value to our shareholders, which we announced at the end of June."
Total revenues for the quarter ended June 30, 2012 were $225.6 million, up from $183.8 million for the quarter ended June 30, 2011. Net income for the quarter ended June 30, 2012 was $72.3 million or $1.37 per basic share, compared to $73.9 million or $1.27 per basic share for the same quarter in 2011. Gross margin from sales was $192.2 million for the quarter ended June 30, 2012, compared to $162.4 million for the same quarter last year. Earnings before non-cash charges(1)for the quarter ended June 30, 2012 were $127.7 million, compared to $93.5 million for the same quarter in 2011.
Financial Results for the Three Months Ended June 30, 2012
The table below summarizes the components of net revenues (dollars in thousands):