Sepracor, Inc. Announces Second Quarter 2006 Operating Results
MARLBOROUGH, Mass.--(BUSINESS WIRE)--July 21, 2006--Sepracor Inc. (Nasdaq: SEPR - News) today announced its consolidated financial results for the second quarter of 2006. For the three months ended June 30, 2006, Sepracor's consolidated revenues were $264.4 million, of which revenues from pharmaceutical product sales were $256.4 million (XOPENEX® brand levalbuterol franchise revenues were $117.3 million and LUNESTA(TM) brand eszopiclone revenues were $139.1 million). Net income for the second quarter of 2006 was approximately $11.3 million, or $0.10 per diluted share. Reported results for the second quarter of 2006 included charges of $10.6 million, or $0.09 per diluted share, for stock-based compensation due to Sepracor's adoption in January 2006 of Statement of Financial Accounting Standards or SFAS No. 123R. These consolidated results compare with consolidated revenues of $185.1 million, of which revenues from pharmaceutical product sales were $166.7 million ($83.2 million for sales of XOPENEX® brand levalbuterol and $83.5 million for sales of LUNESTA), and a net loss of $7.4 million, or $0.07 per share, for the three months ended June 30, 2005.