Cardiome Pharma Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Year 2018
For the six months, the company reported revenue was $12,721,000 against $10,953,000 a year ago. Operating loss was $17,247,000 against $11,877,000 a year ago. Loss before income taxes was $2,931,000 against $14,814,000 a year ago. Net loss was $3,032,000 against $14,845,000 a year ago. Loss per common share - diluted was $0.09 against $0.46 a year ago. Net cash used in operating activities was $13,937,000 against $14,910,000 a year ago. Purchase of property and equipment was $266,000 against $5,000 a year ago. Purchase of intangible assets was $4,664,000 against $13,000 a year ago.
For the remainder of 2018, the company believe to execute on stated goal of providing meaningful revenue growth of 20-25% over 2017. The company expects that total 2018 revenue will come in between $28 million or $30 million, depending on foreign exchange rates and the timing of several large distributor orders.