MGI PHARMA, INC. Reports Third Quarter 2007 Financial Results

Published: Oct 18, 2007

MINNEAPOLIS--(BUSINESS WIRE)--MGI PHARMA, INC. (NASDAQ:MOGN), a biopharmaceutical company focused in oncology and acute care, today reported financial results for the three months ended September 30, 2007. Total revenue for the third quarter of 2007 was $112.5 million compared to $97.0 million for the third quarter of 2006. The Company reported GAAP net income of $10.9 million, or $0.13 per diluted share, in the 2007 third quarter compared to GAAP net income of $1.7 million, or $0.02 per diluted share, in the 2006 third quarter. Adjusted or non-GAAP net income for the 2007 third quarter increased to $24.8 million, or $0.30 per diluted share, compared to adjusted net income of $5.8 million, or $0.07 per diluted share, in the 2006 third quarter. See “Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income” below for information on the adjusted numbers presented in this press release.

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