Celgene post strong sales and earnings performance

US biotech company Celgene (Nasdaq: CELG) yesterday reported net product sales of $1.42 billion for the fourth quarter 2012, a 14% increase from the same period in 2011 but below analysts’ expectations s of $1.46 billion.

Adjusted net income for the quarter rose 21% to $572 million. For the same period, adjusted diluted earnings per share increased 26% to $1.32, just beating analysts’ average forecasts of $1.31.

Full year total revenues for 2012 were $5,507 million and net product sales were $5,386 million. Full year adjusted net income for 2012 was $2,162 million or adjusted diluted earnings per share of $4.91.