Acucela Inc. Announces Management Changes; Announces Non-Consolidated Earnings Results for the Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year Ending December 31, 2015
The company announced non-consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenues from collaborations of USD 35,396,000 compared to USD 52,947,000 a year ago. Loss from operations was USD 188,000 compared to income from operations of USD 6,994,000 a year ago. Income before income tax was USD 353,000 compared to USD 7,182,000 a year ago. Net loss attributable to common shareholders was USD 2,006,000 or USD 0.06 per basic and diluted share compared to net income attributable to common shareholders of USD 1,161,000 or USD 0.09 per diluted share a year ago. Net cash provided by operating activities was USD 8,844,000 compared to USD 7,246,000 a year ago. Additions to property and equipment were USD 131,000 compared to USD 500,000 a year ago.
For the full year ending December 31, 2015, the company expects revenues from collaborations in the range of USD 33,200,000 to USD 35,700,000, loss from operations in the range of USD 9,575,000 to USD 12,000,000, loss before income tax in the range of USD 9,225,000 to USD 11,575,000 and net loss in the range of USD 9,350,000 to USD 11,650,000 or net loss per share in the range of USD 0.26 to USD 0.33.