Alexion Pharmaceuticals, Inc. (ALXN) has reported a 38.81 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $93 million, or $0.41 a share in the quarter, compared with $67 million, or $0.29 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $287 million, or $1.26 a share compared with $240 million or $1.04 a share, a year ago.
Revenue during the quarter grew 18.54 percent to $831 million from $701 million in the previous year period. Total expenses were 84.72 percent of quarterly revenues, down from 86.16 percent for the same period last year. This has led to an improvement of 145 basis points in operating margin to 15.28 percent.
Operating income for the quarter was $127 million, compared with $97 million in the previous year period.
"In 2016 the global Alexion team delivered on our patient-centered objectives as we grew our leadership in complement by serving more patients with PNH and aHUS, and continued to build our metabolic franchise with the global launches of Strensiq and Kanuma. We also achieved important regulatory milestones towards new indications for Soliris and initiated two registration studies for ALXN1210 to drive our future growth," said David Brennan, Interim chief executive officer of Alexion. "Our 2017 guidance reflects double-digit revenue and EPS growth as we continue to grow our complement and metabolic franchises, prepare for the potential launches of Soliris in refractory gMG, and focus on our highest priority R&D programs."
For financial year 2017, Alexion Pharmaceuticals, Inc. forecasts revenue to be in the range of $3,400 million to $3,500 million. The company forecasts adjusted revenue to be in the range of $3,400 million to $3,500 million. The company projects net income to be in the range of $578 million to $692 million. The company expects adjusted net income to be in the range of $1,145 million to $1,202 million. The company forecasts operating income to grow in the range of 25 percent to 28 percent. The company forecasts adjusted operating income to grow in the range of 43 percent to 44 percent. The company expects diluted earnings per share to be in the range of $2.55 to $3.05. The company expects diluted earnings per share to be in the range of $5 to $5.25 on adjusted basis.
Working capital increases marginally
Alexion Pharmaceuticals, Inc. has recorded an increase in the working capital over the last year. It stood at $1,755 million as at Dec. 31, 2016, up 2.81 percent or $47.90 million from $1,707.10 million on Dec. 31, 2015. Current ratio was at 3.13 as on Dec. 31, 2016, down from 3.38 on Dec. 31, 2015.
Days sales outstanding went up to 36 days for the quarter compared with 35 days for the same period last year.
Days inventory outstanding has increased to 254 days for the quarter compared with 230 days for the previous year period.
Debt comes down
Alexion Pharmaceuticals, Inc. has recorded a decline in total debt over the last one year. It stood at $3,055 million as on Dec. 31, 2016, down 10.67 percent or $365 million from $3,420 million on Dec. 31, 2015. Total debt was 23.05 percent of total assets as on Dec. 31, 2016, compared with 26.04 percent on Dec. 31, 2015. Debt to equity ratio was at 0.35 as on Dec. 31, 2016, down from 0.41 as on Dec. 31, 2015. Interest coverage ratio improved to 5.08 for the quarter from 4.22 for the same period last year.
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