4Q Revenues: $98.1 million (+4%)
4Q Earnings: $15.2 million (-6%)
FY Revenues: $312.7 million (+11%)
FY Earnings: $31.1 million (+32%)
Comments: For the year, product sales were $257.9 million, up 19%, driven by the biodefense business with strong performance reflected by the increased BioThrax doses shipped and sales of newly acquired medical countermeasure RSDL.
Contracts and grants revenues were $54.8 million, down 17% primarily due to decreased revenue associated with BioThrax PEP and PreviThrax development activities, offset by revenue associated with CIADM contract with BARDA. R&D expenses were flat at $119.9 million for the year. In the quarter, the company announced the acquisition of Cangene Corp., which added three Biodefense countermeasures, four commercial products, an infrastructure focused on hospitals and specialty clinics, and a growing contract manufacturing and fill/finish business.