Several companies declared their quarterly earnings before the market opened, while few companies are scheduled to unveil their financial results after the closing bell today.
Acorda Therapeutics, Inc. (Nasdaq: ACOR), a commercial stage biopharmaceutical company, today announced its financial results for the third quarter ended September 30, 2011. The Company reported GAAP net income of $18.9 million, or $0.47 per diluted share, during the quarter, compared to GAAP net income of $12.4 million, or $0.31 per diluted share. Analysts had estimated a net profit of $0.72 per share for the company. The company's revenue during the period was $65.42 million, up from $61.26 million in the previous year. For the quarter ended September 30, 2011, the Company reported AMPYRA net revenue of $54.7 million, compared to $49.8 million in net revenue for the same quarter in 2010. AMPYRA revenue is recognized following shipment of the product from the Company's distribution facility to its network of specialty pharmacies. President and CEO Ron Cohen said, "We are pleased with the renewed growth of AMPYRA over the last two quarters. Persistence and compliance rates among patients who respond to AMPYRA are high. This will be an important contributor to the long-term growth of the brand."
[Related -Pitney Bowes (PBI): Is That High-Yield Stock Really A 'Dividend Trap'?]
The AES Corp. (NYSE: AES), a leading power supply company, declared its FY 2011 Q3 earnings today. During the quarter, the company reported 35 percent increase in its net earnings to $131 million, or $0.17 per share, from $114 million, or $0.14 per share, in the previous year. Analysts had estimated a net profit of $0.24 per share. The company's total revenue rose to $4.38 billion during the same period, from $3.99 billion in the corresponding year. Consolidated Revenue increased by $391 million to $4.4 billion, benefiting from favorable impact of foreign currency of $173 million, contributions from new businesses including Ballylumford in Northern Ireland, Angamos in Chile and Maritza in Bulgaria, higher prices in Chile and Argentina, and increased demand at its Brazilian utilities. CFO Victoria D Harker said, We now anticipate savings in 2012 of $40 to $50 million, an increase from the $10 to $20 million we announced earlier this year, coming from more focused business development efforts and achieving greater synergies and efficiency from our new organizational structure."
[Related -Merger Arbitrage Mondays – June 3, 2013]
Windstream Corp. (Nasdaq: WIN), which provides communications and technology solutions in the US, announced its FY 2011 Q3 earnings today.