INSYS Therapeutics, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Tax Rate Guidance for Fiscal 2016
For the year, the company reported net revenue of 330,797,000 against $222,125,000 a year ago. Income from operations was $92,430,000 against $64,023,000 a year ago. Income before income taxes was $92,968,000 against $64,176,000 reported last year. Net income was $58,476,000 or $0.77 per diluted share compared to $64,176,000 or $0.52 per diluted share a year ago. EBITDA was $97,757,000 against $66,525,000 and adjusted EBITDA was $127,654,000 against $81,814,000 reported last year. Non-GAAP adjusted net income, which adjusts for non-cash stock compensation expense and non-cash income tax expense, was $104.2 million, or $1.38 per diluted share, compared to $78.7 million, or $1.07 per diluted share, in the prior year. Adjusted income before income taxes was $122,865,000 against $79,465,000 reported last year. The company continue to generate positive cash flow with cash, cash equivalents and short and long-term investments in excess of $202 million as of December 31, 2015.
The company announced able to get a tax rate down to maybe to 33% to 35% range for 2016.