Pacira Pharmaceuticals, Inc (PCRX) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $22.16 million, or $ 0.59 a share in the quarter, against a net profit of $3.09 million, or $0.08 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $8.05 million, or $0.20 a share compared with $12.93 million or $0.32 a share, a year ago. Revenue during the quarter grew 9.87 percent to $68.36 million from $62.21 million in the previous year period. Operating margin for the quarter stood at negative 30.52 percent as compared to a positive 8.21 percent for the previous year period.
Operating loss for the quarter was $20.86 million, compared with an operating income of $5.11 million in the previous year period.
"EXPAREL revenues continued to grow year-over-year in the third quarter," said Dave Stack, chief executive officer and Chairman of Pacira. “We believe our steady blocking and tackling of key programs��"from developing robust clinical data in support of marketplace use to strategic commercial partnerships that advance opioid minimization protocols for postsurgical pain control��"will continue to improve patient lives and contribute to sales growth."
For financial year 2016, Pacira Pharmaceuticals expects revenue to be in the range of $263 million to $268 million and adjusted revenue to be in the range of $263 million to $268 million.
Working capital increases marginally
Pacira Pharmaceuticals, Inc has recorded an increase in the working capital over the last year. It stood at $88.61 million as at Sep. 30, 2016, up 1.05 percent or $0.92 million from $87.69 million on Sep. 30, 2015. Current ratio was at 1.60 as on Sep. 30, 2016, up from 1.60 on Sep. 30, 2015. Days sales outstanding went down to 34 days for the quarter compared with 37 days for the same period last year.
Debt moves up marginally
Pacira Pharmaceuticals, Inc has witnessed an increase in total debt over the last one year. It stood at $107.56 million as on Sep. 30, 2016, up 2.53 percent or $2.66 million from $104.91 million on Sep. 30, 2015. Pacira Pharmaceuticals has witnessed an increase in short-term debt over the last one year. It stood at $107.56 million as on Sep. 30, 2016, up 2.53 percent or $2.66 million from $104.91 million on Sep. 30, 2015. Total debt was 28.22 percent of total assets as on Sep. 30, 2016, compared with 28.43 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.50 as on Sep. 30, 2016, when compared with the last year.
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