SciClone Pharmaceuticals Q4 Profit Down

(RTTNews) - SciClone Pharmaceuticals, Inc. (SCLN) said that net income for the fourth quarter of 2013 was approximately $36,000 or break even per share, down from $1.9 million or $0.03 per share in the same period of last year.

But, on a non-GAAP basis, net income for the fourth quarter was $4.0 million or $0.07 per share, up from $2.0 million or $0.04 per share for the same period of last year.

Quarterly revenues declined to $32.7 million, from $33.1 million last year.

SciClone projects its 2014 revenue to be in the range between $130 and $135 million, and its non-GAAP earnings per share to be in the range between $0.41 and $0.47. SciClone anticipates that ZADAXIN revenues in 2014 will be higher than 2013, partially offset by the loss of promotion services revenues from the non-renewal of the promotion agreement with Sanofi.

SciClone also projects that cash and investments as of December 31, 2014 will be greater than $100 million, which excludes the cash impact of any repurchases of common stock during 2014, in-licensing related payments, Zensun loan drawdown and any additional actual or probable expense, in excess of the $2 million currently reserved, for potential fines and/or other remedies related to the ongoing investigation with the Securities and Exchange Commission and Department of Justice.