XML 41 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Unaudited Quarterly Results
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Results
Unaudited Quarterly Results
Summarized quarterly financial data for the years ended December 31, 2014 and 2013 are set forth in the following tables.
 
 
First Quarter Ended
March 31, 2014
 
Second Quarter Ended
June 30, 2014
 
Third Quarter Ended
September 30, 2014
 
Fourth Quarter Ended
December 31, 2014
 
 
(Unaudited)
Revenues (1)
 
$
625,740

 
$
665,700

 
$
725,788

 
$
802,329

Net income (2)
 
$
65,443

 
$
92,735

 
$
79,720

 
$
110,176

Net income per share - basic
 
$
0.66

 
$
0.92

 
$
0.79

 
$
1.09

Net income per share - diluted
 
$
0.58

 
$
0.82

 
$
0.70

 
$
0.96

 
 
 
 
 
 
 
 
 
 
 
First Quarter Ended
March 31, 2013
 
Second Quarter Ended
June 30, 2013
 
Third Quarter Ended
September 30, 2013
 
Fourth Quarter Ended
December 31, 2013
 
 
(Unaudited)
Revenues (3)
 
$
439,664

 
$
457,642

 
$
597,027

 
$
610,412

Net income
 
$
98,874

 
$
87,376

 
$
141,306

 
$
96,806

Net income per share - basic
 
$
1.02

 
$
0.89

 
$
1.44

 
$
0.98

Net income per share - diluted
 
$
0.90

 
$
0.79

 
$
1.25

 
$
0.86

(1) Revenues in the first, second, third, and fourth quarters of 2014 included recognition of sales milestones of $30.0 million, $15.0 million, $30.0 million, and $30.0 million, respectively.
(2) Net income in the third quarter of 2014 included a $40.6 million incremental charge related to the Branded Prescription Drug Fee based on final regulations issued by the IRS in July 2014 as described in Note 3 above.
(3) Revenues in the second quarter of 2013 were reduced by two $10 million up-front payments made to Sanofi to acquire full rights to antibodies to PDGF and antibodies to Ang2 in ophthalmology, as described in Note 4 above. Revenues in the third and fourth quarter of 2013 included recognition of sales and substantive development milestones of $45.0 million and $25.0 million, respectively.