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Article: Genzyme Grows Markets, Beats 1st Quarter Estimates.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Genzyme Corp. Chairman and CEO Henri Termeer was in a "very bullish mood" as he recapped the Cambridge, Mass.-based company's first quarter financials in a conference call Wednesday morning.
And he had every reason to be. First quarter revenues hit an all-time high of $883.2 million, beating analyst estimates of $875.3 million, breaking the previous record of $854.2 million set in prior quarter, and topping by 21 percent the $730.8 million posted in the first quarter of last year.
Non-GAAP earnings of $210.7 million, or 78 cents per share, also beat analyst estimates of 74 cents per share. On a GAAP basis, Genzyme reported ...