Vertex Pharmaceuticals Incorporated Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Revenue Guidance for the Year 2013
For the year, the company reported total revenues of $1,527,042,000 compared to total revenues of $1,410,626,000 for the same period a year ago. Income from operations was $2,332,000 compared to income from operations of $113,820,000 last year. Loss before benefit from income taxes was $12,381,000 compared to income before provision for income taxes of $60,445,000 last year. Net loss was $51,135,000 compared to net income of $41,179,000 last year. Net loss attributable to the company was $107,032,000 or $0.50 per basic and diluted share compared to net profit attributable to the company of $29,574,000 or $0.14 per basic and diluted share last year. Non GAAP income from operations was $271,231,000 compared to income from operations of $33,794,000 last year. Non GAAP net profit attributable to the company was $255,536,000 or $1.18 per diluted share compared to $16,116,000 or $0.08 per diluted share last year. Non GAAP income before provision for income taxes was $256,500,000 compared to income before provision for income taxes of $19,265,000 last year.
The company expects full-year 2013 total revenues to be in the range of $1.10 billion to $1.25 billion, including full-year 2013 KALYDECO net revenues of $280 million to $320 million. The growth of 2013 KALYDECO revenues, compared to full-year 2012 revenues of $172 million, is primarily dependent on completion of reimbursement discussions in countries outside the U.S.