Neurocrine Biosciences Inc Q3 Profit Increases, beats estimates

(RTTNews) - Neurocrine Biosciences Inc (NBIX) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $68.5 million, or $0.69 per share. This compares with $22.5 million, or $0.23 per share, in last year's third quarter.

Excluding items, Neurocrine Biosciences Inc reported adjusted earnings of $106.7 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.0% to $387.9 million from $296.0 million last year.

Neurocrine Biosciences Inc earnings at a glance (GAAP) :

-Earnings (Q3): $68.5 Mln. vs. $22.5 Mln. last year. -EPS (Q3): $0.69 vs. $0.23 last year. -Analyst Estimate: $0.79 -Revenue (Q3): $387.9 Mln vs. $296.0 Mln last year.