Consolidated Net Revenue Up 16% Compared to Third Quarter 2018
International Net Revenue Up 62% Compared to Third Quarter 2018
Launch of ILUVIEN® for Non-Infectious Posterior Uveitis in U.K. and Germany
Approval of ILUVIEN for Non-Infectious Posterior Uveitis Indication in Portugal
ATLANTA (October 29, 2019) – Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces financial results for the quarter ended September 30, 2019. Alimera will host a conference call on Wednesday, October 30, 2019 at 9:00 AM ET to review these financial results and provide an update on corporate developments.
“We are pleased to report consolidated revenue of $12.9 million for the third quarter of 2019, a 16% gain over the third quarter of last year and significant growth over the recently reported second quarter of 2019,” said Rick Eiswirth, President and CEO of Alimera. “Our international business contributed greatly to our growth, delivering a 62% increase in revenue on a combined basis, and our U.S. sales team, which was fully staffed, delivered increases in end user demand month-to-month during the quarter.”
Third Quarter 2019 Financial Results
Consolidated net revenue for the third quarter of 2019 grew 16% to $12.9 million, compared to $11.1 million for the third quarter of 2018. U.S. net revenue was $8.7 million during the third quarter of 2019, up 2% from $8.5 million during the same period in 2018, and up 19% over the second quarter of 2019. End user demand, which represents units purchased by physicians and pharmacies from Alimera’s U.S. distributors, decreased slightly for the third quarter of 2019, to 973 units compared to 978 units from the third quarter of 2018, but increased sequentially from 917 units in the second quarter of 2019 after the sales force was fully staffed.
The discrepancy between GAAP revenue and end user demand in the U.S. is due to the timing of distributor purchases from quarter to quarter. In the third quarter of 2018, Alimera’s distributors purchased approximately 5% more units than they sold to end users, increasing their stock on hand during that quarter. In the third quarter of 2019, Alimera’s distributors purchased
The following information was filed by Alimera Sciences Inc (ALIM) on Wednesday, October 30, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ALIM CIK: 1267602 Form Type:10-Q Quarterly Report Accession Number: 0001267602-19-000169 Submitted to the SEC: Tue Nov 05 2019 11:39:32 AM EST Accepted by the SEC: Tue Nov 05 2019 Period: Monday, September 30, 2019 Industry: Pharmaceutical Preparations