Alimera Sciences Reports Record Fourth Quarter and Full Year 2016 Financial Results
Fourth Quarter and Full Year Ended 2016 Highlights
•Annual revenue increased 53% for 2016 compared to 2015
Record fourth quarter 2016 revenue of $10.7 million represents an 84% increase over fourth quarter 2015
Alimera expects its distributors in Italy and the Middle East to further the availability of ILUVIEN in 2017
•Alimera to host conference call on March 2, 2017 at 10:00 AM ET
ATLANTA, March 01, 2017 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a global pharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, today announced financial results for the three months and full year ended December 31, 2016.
"We are pleased with our 53% top line growth in 2016 as compared to 2015 as well as the 84% growth we saw this quarter over the fourth quarter of 2015. We believe this growth reflects the increasing acceptance of ILUVIEN as the best product available to treat diabetic macular edema because it is the only drug therapy that enables the physician to treat the disease consistently every day," said Dan Myers, Alimera's Chief Executive Officer. "Revenue in the U.S., Germany and Portugal grew significantly year over year and we were pleased to see our business rebound in the United Kingdom during the fourth quarter. Additionally, our distributor partnerships in both the Middle East and Italy, as well as the strengthening of our balance sheet, are highlights of our 2016 year and provide a great platform for growth in 2017."
Fourth Quarter and Full Year 2016 Financial Results
Consolidated net revenue increased by approximately $4.9 million, or 84%, to approximately $10.7 million for the three months ended December 31, 2016, compared to consolidated net revenue of approximately $5.8 million for the three months ended December 31, 2015. This increase was driven by increased sales of ILUVIEN in the U.S., Germany and Portugal.
Consolidated net revenue increased by approximately $11.9 million, or 53%, to approximately $34.3 million for the year ended December 31, 2016, compared to consolidated net revenue of approximately $22.4 million for the year ended December 31, 2015. This increase was primarily driven by increased sales of ILUVIEN in the U.S., because of broader acceptance of ILUVIEN in the marketplace.
The following information was filed by Alimera Sciences Inc (ALIM) on Wednesday, March 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.