Sepracor, Inc. Announces First Quarter 2006 Results
MARLBOROUGH, Mass.--(BUSINESS WIRE)--April 25, 2006--Sepracor Inc. (Nasdaq: SEPR - News) today announced its consolidated financial results for the first quarter 2006. For the three months ended March 31, 2006, Sepracor's consolidated revenues were approximately $285.7 million, of which revenues from Sepracor's pharmaceutical product sales were approximately $277.5 million (XOPENEX® brand levalbuterol franchise revenues were $139.4 million and LUNESTA(TM) brand eszopiclone revenues were $138.1 million). Net income for the first quarter of 2006 was approximately $10.3 million, or $0.09 per diluted share. Reported results for the first quarter of 2006 included charges of $9.8 million, or $0.09 per diluted share, for stock-based compensation due to Sepracor's adoption of SFAS No. 123R. These consolidated results compare with consolidated revenues of $119.0 million, of which revenues from Sepracor's pharmaceutical product sales (XOPENEX Inhalation Solution) were approximately $106.6 million, and a net loss of $22.6 million, or $0.22 per diluted share, for the three months ended March 31, 2005. Reported results for the first quarter 2005 did not include charges for stock-based compensation, as Sepracor did not adopt SFAS No. 123R until January 1, 2006.