Aralez Pharmaceuticals Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Fiscal Year 2018
For the full-year 2017, the company's total revenues were USD 105,947,000, an increase of USD 51.6 million, or 95%, compared to USD 54,270,000 in the same period of 2016. Net product revenues of USD 38.7 million for the year ended December 31, 2017 primarily related to the Canadian product portfolio, as well as net product revenues from the sales of the Toprol-XL AG under the Lannett Toprol-XL AG Agreement, and sales of Zontivity, Yosprala and Fibricor. Net product revenues of USD 25.4 million for the year ended December 31, 2016 were primarily attributable to the product portfolio acquired in the Tribute Merger. Loss income from operations was USD 96,503,000 against USD 102,584,000 a year ago. Loss before income taxes was USD 122,805,000 against USD 103,042,000 a year ago. Net loss was USD 125,205,000 against USD 102,978,000 a year ago. Diluted net loss per common share was USD 1.89 against USD 1.74 a year ago. Adjusted LBITDA for the year ended December 31, 2017 was USD 4,548,000 compared to USD 46,744,000 in the comparable 2016 period.
For the year 2018, the company's estimates are based on projected results of the company for the year ending December 31, 2018 and reflect management's current beliefs and expectations about, among other things, prescription trends, competition, including no additional Toprol-XL generic market entrants in 2018, pricing levels, inventory levels, and anticipated future events. The company's guidance on Adjusted EBITDA includes, among other things, costs to support the commercialization efforts with respect to Zontivity and the Canadian product portfolio as well as costs to support the global corporate structure. It excludes share-based compensation expense and certain discrete costs, including transaction related costs. For the year ending December 31, 2018, assuming, among other things, factors more, the company currently expects 2018 net revenues to be in a range of USD 140 million to USD 160 million, and 2018 adjusted EBITDA to be in a range of USD 35 million to USD 55 million. Net loss expected to be in a range of USD 53.0 million to USD 34.0 million. Depreciation and amortization expense expected to be USD 36 million. Interest expense expected to be USD 26 million.