Free Research Report as Horizon Pharma's Revenue Grew 30.2%

LONDON, UK / ACCESSWIRE / December 18, 2017 / Active-Investors free earnings report on Horizon Pharma PLC (NASDAQ: HZNP) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=HZNP. The Company posted its financial results on November 06, 2017, for the third quarter of the fiscal year 2017. The biopharmaceutical Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Horizon Pharma most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=HZNP

Earnings Highlights and Summary

For the three months ended September 30, 2017, Horizon Pharma's revenue increased 30.2% to $271.65 million from $208.70 million in Q3 FY16, due to a strong growth from the Company's Orphan and Rheumatology Business Units. The Company's revenue numbers surpassed analysts' expectations of $254.1 million.

During Q3 FY17, the Company's Orphan Business Unit's revenue increased 64% to $117.4 million on a y-o-y basis, while the Rheumatology Business Unit's revenue increased 44% to $58.1 million on a y-o-y basis. During Q3 FY17, the Company's Primary Care Business Unit's revenue decreased 41% to $96.1 million on a y-o-y basis, due to the implementation of the new contracting model with pharmacy benefit managers.

During Q3 FY17, Horizon Pharma's gross profit increased 18.3% to $146.13 million from $123.54 million in the same period of last year. For the reported quarter, the Company's gross margin decreased 520 basis points to 53.8% of revenue from 59.2% of revenue in the third quarter of last year. For the reported quarter, the Company's adjusted gross margin decreased 200 basis points to 89.6% of revenue from 91.6% of revenue in the third quarter of last year.

For the reported quarter, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 35.2% to $78.72 million from $58.22 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA decreased 23.5% to $108.10 million from $141.22 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA margin decreased 2,790 basis points to 39.8% of revenue from 67.7% of revenue in the third quarter of last year.

For the reported quarter, the Company's total operating expenses increased 18.7% to $171.88 million from $144.86 million in Q3 FY16.

During Q3 FY17, Horizon Pharma's operating loss was $25.75 million versus an operating loss of $21.32 million in the comparable period of last year.

During Q3 FY17, Horizon Pharma's earnings before tax (EBT) was negative $56.79 million compared to negative $33.62 million in the corresponding period of last year.

For the reported quarter, Horizon Pharma's net loss was $63.97 million compared to a net loss of $5.87 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was negative $0.39 compared to negative $0.04 in the same period of last year. For the reported quarter, Horizon Pharma's adjusted net income decreased 62.6% to $43.13 million from $115.47 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS decreased 62.9% to $0.26 from $0.70 in Q3 FY16, but surpassing analysts' expectations of negative $0.22.

Balance Sheet

As on September 30, 2017, Horizon Pharma's cash and cash equivalents increased 22.8% to $624.96 million from $509.06 million as on December 31, 2016. For the reported quarter, the Company's net long-term debt increased 5.1% to $1.58 billion from $1.50 billion in Q4 FY16.

For the reported quarter, the Company's net accounts receivable increased 27.8% to $390.68 million from $305.73 million in the fourth quarter of last year. For the reported quarter, the Company's accounts payable decreased 37.4% to $32.83 million from $52.48 million in Q4 FY16.

During Q3 FY17, the Company's cash provided by operating activities decreased 46.9% to $68.35 million from $128.79 million in the comparable period of last year.

On October 25, 2017, Horizon Pharma announced the enrollment of patients in the Phase-3 Clinical Trial Evaluating Teprotumumab for Thyroid Eye Disease.

Outlook

For FY17, the Company expects revenue to be in the range of $1.03 billion - $1.05 billion, and adjusted EBITDA to be in the band of $350 million - $375 million.

Stock Performance Snapshot

December 15, 2017 - At Friday's closing bell, Horizon Pharma's stock advanced 1.08%, ending the trading session at $15.00.

Volume traded for the day: 3.50 million shares, which was above the 3-month average volume of 2.49 million shares.

Stock performance in the last month ? up 14.24%; previous three-month period ? up 26.69%; past six-month period ? up 40.19%; and last twelve-month period ? up 0.47%

After last Friday's close, Horizon Pharma's market cap was at $2.45 billion.

The stock is part of the Healthcare sector, categorized under the Drugs - Generic industry. This sector was up 1.0% at the end of the session.

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