Sciele second-quarter revenues up 45% to $72.4 million

By Lisa Kerner

Charlotte, N.C., July 26 - Sciele Pharma, Inc. said its second-quarter 2006 revenues of $72.4 million were up 45% from the prior year period's reported $49.8 million.

For the six months ended June 30, Sciele had net revenues of $138.9 million, up 54% from $90.8 million in the prior year period.

Adjusted diluted earnings per share for the second-quarter 2006 were $0.31, an increase of 48% over the second quarter of 2005.

For the first half of the year, the company's adjusted diluted earnings per share were $0.57, up 43% from the adjusted earnings per share of $0.40 for the year ago period.

Gross margins were 85.4% in the second quarter of 2006 compared with 85.2% in the second quarter of 2005. For the first half of 2006, gross margins were 86%, compared to 84% in the first half of 2005.

Sciele expects an increase in full-year 2006 revenue to $275 million to $285 million, and anticipates full-year 2006 adjusted diluted earnings per share to be in the range of $1.28 to $1.33.

"In the second quarter of 2006, our increases in sales and earnings were driven by the strong performance of our cardiovascular/metabolic product portfolio, led by Sular and Triglide," president and chief executive officer Patrick Fourteau said in a news release.

"The company plans to expand its Women's Health sales force and launch a new women's health product in the second half of this year."

Sciele increased its full-year 2006 revenue guidance to $275 million to $285 million, and its full-year 2006 adjusted diluted earnings per share guidance to $1.28 to $1.33.

Atlanta-based Sciele specializes in branded prescription products for cardiovascular/metabolic disorders and women's health.

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