Regeneron 3rd-qtr beats expectations, as total revenues leap 40%

US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) has posted financial and operating results for the third quarter of 2013 and raised its full-year forecasts, which beat analysts’ consensus forecasts and sent its shares up 5%. Shares were trading higher in pre-market activity at $298, up 6%.

The company reported net income of $141 million, or $1.25 per share, down from $191 million or $1.72 per share a year earlier. However, this was well up on analysts’ expectations of earnings per share of $0.90, according to Thomson Reuters I/B/E/S. Non-generally-accepted accounting principle (GAAP) net income of $277 million, or $2.40 per diluted share, in the third quarter, ahead of the average $1.88 estimate of analysts.

Total revenues increased by 40% to $597 million in the third quarter of 2013, compared to $428 million in the third quarter of 2012, and some 18% higher than analysts polled by FactSet of the $505.7 million.