Zogenix, Inc. (NASDAQ:ZGNX) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 4.53%.

Zogenix, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.16 in the quarter versus EPS of $-0.36 in the year-earlier quarter.

Revenue: Rose 20.25% to $9.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Zogenix, Inc. reported adjusted EPS loss of $0.16 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It missed the average revenue estimate of $9.87 million.

Quoting Management: Roger Hawley, chief executive officer of Zogenix, stated, “2012 was an important year of development for the Company. We drove 18% growth in net product sales of SUMAVEL DosePro and transitioned to a new co-promotion partner, Mallinckrodt, that is well positioned to work with our team to further expand product adoption in 2013.
“We continue to move forward with launch preparations for Zohydro ER while we wait for further communication from the FDA on the NDA. We believe that Zohydro ER, an extended-release hydrocodone formulation without acetaminophen, meets an important medical need based on its safety and efficacy profile. If approved, we anticipate launching the product three to four months after approval.”

Revenue increased 12.43% from $8.45 million in the previous quarter. EPS increased to $-0.16 in the quarter versus EPS of $-0.21 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0 to a loss $0.14. For the current year, the average estimate has moved down from a loss of $0.78 to a loss of $0.8 over the last ninety days.

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