Bristol-Myers beats by $0.10, beats on revs; guides FY16 EPS above consensus
- Reports Q4 (Dec) earnings of $0.38 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.28; revenues rose 0.7% year/year to $4.29 bln vs the $4.15 bln Capital IQ Consensus.
- Co issues upside guidance for FY16, sees EPS of $2.30-2.40, excluding non-recurring items, vs. $2.29 Capital IQ Consensus Estimate.
- Worldwide revenues increasing in the mid-single digit range.
- Full-year gross margin as a percentage of revenues to be approximately 75% - 76%.
- Marketing, sales and administrative expenses decreasing in the mid-single digit range.
- Research and development expenses increasing in the high-single digit range