SILVER SPRING, Md., April 26, 2012 /PRNewswire/ -- United Therapeutics Corporation (NASDAQ: UTHR) today announced its financial results for the first quarter ended March 31, 2012.
"I am pleased with our strong first quarter results," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "This is an important stepping stone toward our revenue guidance, plus or minus 5%, of $875 million for 2012 and then $1 billion for 2013."
Total revenues for the quarter ended March 31, 2012 were $204.2 million, up from $162.5 million for the quarter ended March 31, 2011. Net income for the quarter ended March 31, 2012 was $70.8 million or $1.32 per basic share, compared to $16.4 million or $0.28 per basic share for the same quarter in 2011. Gross margin from sales was $178.9 million for the quarter ended March 31, 2012, compared to $142.5 million for the same quarter last year. Earnings before non-cash charges(1) for the quarter ended March 31, 2012 were $114.4 million, compared to $80.7 million for the quarter ended March 31, 2011.
Financial Results for the Three Months Ended March 31, 2012
The table below summarizes the components of net revenues (dollars in thousands):