Emergent BioSolutions said pre-market Monday it preliminarily expects FY16 revenue above Wall Street expectations, but guided for 2017 revenue below views.
Full-year 2016 revenue is expected to be in the range of $500 million to $505 million on a combined basis, and in the range of $480 million to $485 million on continuing operations basis. Analysts polled by Capital IQ had projected $478.8 million.
Moving forward, the company anticipates full-year 2017 revenue to be in the range of $500 million to $530 million. Analysts are expecting $557.5 million. For Q1, the company projects revenue of $120 to $135 million, above the $115.1 million average estimate.