FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the quarter ended March 31, 2012. Total revenues for the first quarter of 2012 increased 19 percent to $2.28 billion, from $1.93 billion for the first quarter of 2011. Net income for the first quarter of 2012 was $442.0 million, or $0.57 per diluted share compared to $651.1 million, or $0.80 per diluted share for the first quarter of 2011. Net income for the first quarter of 2012 included acquisition-related compensation expense of $193.9 million, or $0.25 per diluted share for the acceleration of unvested stock options in connection with the Pharmasset Inc. (Pharmasset) acquisition. Non-GAAP net income for the first quarter of 2012, which excludes acquisition-related, restructuring and stock-based compensation expenses, was $704.4 million, or $0.91 per diluted share compared to $702.8 million, or $0.87 per diluted share for the first quarter of 2011.
