Results of Operations and Financial Condition.
On July 15, 2019, Repligen Corporation (the
) announced preliminary financial results for the second quarter of 2019. The
Company expects its total revenue for the three months ended June 30, 2019 will be between approximately $70 million and $71 million, compared to $47.7 million in total revenue for the three months ended June 30, 2018. The
Companys fully diluted earnings per share on a GAAP basis for the three months ended June 30, 2019 is expected to be between $0.12 and $0.15, compared to $0.06 for the three months ended June 30, 2018. The Companys fully
adjusted earnings per share for the three months ended June 30, 2019 is expected to be between $0.30 and $0.33, compared to $0.16 for the three months ended June 30, 2018.
Adjustments to preliminary GAAP fully diluted earnings per share, reconciling to preliminary adjusted
fully diluted earnings per share, include the following estimated adjustments: acquisition and
integration costs of $0.14, intangible amortization of $0.06,
interest expense of $0.02, and the tax effect of intangible amortization and integration costs of $(0.04), each per fully diluted share.
adjusted earnings per share is a measure of financial performance which is not required
by, or presented in accordance with, generally accepted accounting principles in the United States (
), and which is defined as fully diluted earnings per share as reported in accordance with GAAP, excluding acquisition and
integration costs, amortization of intangible assets,
interest expense and the tax effect of intangible amortization and acquisition costs. The Company includes this
financial information because it believes it provides a useful comparison of its financial results between periods and reflect how management reviews its financial results. This financial measure
excludes the impact of certain acquisition-related items because the Company believes that the resulting charges do not accurately reflect the performance of its ongoing operations for the period in which such charges were incurred. Because some
companies do not calculate this
financial information in the same way as the Company does and financial metrics reported by other companies under the same or similar captions may not be comparable,
from a financial point of view, to any financial measures that the Company reports, the Companys
financial measures should not be considered as alternative measures of earnings per share, and do
not replace the presentation of financial results in accordance with GAAP.
These financial results are only preliminary estimates and are based on
information available to management as of the date hereof, and these expectations could change. The Companys actual financial results as of and for the three months ended June 30, 2019 are subject to the completion of its financial
statements as of and for such period, and are not indicative of future performance. The Companys actual financial results as of, and for the three months ended June 30, 2019 may differ materially from the preliminary financial results
provided herein as a result of the completion of final adjustments, review by the Companys independent registered public accountants and other developments arising between now and the time that the financial results for such period are
finalized. The Companys independent registered public accountants have not audited, reviewed or performed any procedures with respect to such preliminary estimates and accordingly do not express an opinion or any other form of assurance with
respect thereto. Complete quarterly results as of, and for the three months ended June 30, 2019 will be announced during our second quarter financial results earnings conference call and included in the Companys Quarterly Report on Form
for the three months ended June 30, 2019.
The information in this Item 2.02 of
this Form 8-K
shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the
) or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.