Celgene Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company announced total revenue was $3,483 million compared to $2,980 million for the same period a year ago. Operating income was $1,198 million compared to $929 million for the same period a year ago. Income before income taxes was $1,131 million compared to $499 million for the same period a year ago. Net loss was $81 million or $0.10 per basic and diluted share compared to net income of $429 million or $0.53 per diluted share for the same period a year ago. Net income – adjusted was $1,592 million compared to $1,290 million for the same period a year ago. Diluted net income per common share – adjusted was $2.00 compared to $1.61 for the same period a year ago. Decrease in net income was primarily due to the impact of the Tax Cuts and Jobs Act.

For the full year, the company announced total revenue was $13,003 million compared to $11,229 million for the same period a year ago. Operating income was $4,707 million compared to $3,166 million for the same period a year ago. Income before income taxes was $4,314 million compared to $2,372 million for the same period a year ago. Net income was $2,940 million or $3.64 per diluted share compared to $1,999 million or $2.49 per diluted share for the same period a year ago. Net income – adjusted was $6,016 million compared to $4,770 million for the same period a year ago. Diluted net income per common share – adjusted was $7.44 compared to $5.94 for the same period a year ago.

The company provided earnings guidance for the full year ending December 31, 2018. For the year, the company expects to report: net income – GAAP between $5,629 million and $5,934 million; net income – adjusted between $6,743 million and $6,898 million; net income per diluted common share – GAAP between $7.26 and $7.66; net income per diluted common share – adjusted between $8.70 and $8.90; total revenue between $14.4 billion and $14.8 billion; GAAP operating margin of approximately 46.5%; adjusted operating margin of approximately 60.0%; and adjusted tax rate of approximately 18%.