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UPDATE 1-SciClone Q4 beats Street; forecasts 2010 EPS above view
March 2, 2010 / 10:10 PM / in 8 years

UPDATE 1-SciClone Q4 beats Street; forecasts 2010 EPS above view

* Q4 EPS $0.05 vs est $0.02

* Q4 revenue $18.1 mln vs est $18.0 mln

* Sees 2010 EPS $0.31-$0.35 vs est $0.29

* Backs 2010 rev outlook of $82-$85 mln

* Shares up 6 pct in after-mkt trade

March 2 (Reuters) - SciClone Pharmaceuticals Inc SCLN.O posted a better-than-expected quarterly profit, helped by strong sales of its hepatitis B treatment Zadaxin in China, and forecast fiscal 2010 earnings above analysts’ expectations.

Fourth-quarter net income was $2.4 million, or 5 cents a share, compared with a loss of $3.1 million, or 7 cents a share in the year-ago period.

Revenue for the quarter rose 18 percent to $18.1 million.

Analysts were expecting earnings of 2 cents, on revenue of $18.0 million, according to Thomson Reuters I/B/E/S.

For fiscal 2010, the company said it expects to earn between 31 cents and 35 cents a share, and backed its revenue outlook of between $82 million and $85 million, issued in January.

Analysts are expecting earnings of 29 cents, on revenue of $79.5 million.

Foster City, California-based SciClone sells Zadaxin, a drug approved in China and other overseas markets, to treat hepatitis B infections and to boost the immune systems of other patients, including those with liver cancer.

Shares of the company were up 6 percent at $3.70 in after-market trade. They closed at $3.50 Tuesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Maju Samuel)

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