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 June 30, 2007. Total revenue for the second quarter of 2007 was $93.0 million compared to $87.2 million for the second quarter of 2006. The Company reported GAAP net income of $2.1 million, or $0.03 per diluted share, in the 2007 second quarter compared to a GAAP net loss of $19.4 million, or $0.25 per diluted share, in the 2006 second quarter. Adjusted or non-GAAP net income for the 2007 second quarter increased to $11.1 million, or $0.13 per diluted share, compared to adjusted net loss of $5.0 million, or $0.06 per diluted share, in the 2006 second quarter. See “Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income (Loss)” below for information on the adjusted numbers presented in this press release.
