Driven by strong worldwide sales of its Definity ultrasound contrast agent, Lantheus Medical Imaging parent Lantheus Holdings reported a 6.2% sales gain in its fourth quarter. Net income declined, however, due to adjustments in tax reporting completed in 2017.
For the period (end-December 31, 2018), Lantheus had worldwide revenue of $86.3 million, up from $81.2 million in the fourth quarter of 2017. The increase was aided by continued sales growth worldwide of Definity, according to the vendor.
The company had fourth-quarter net income of $13.3 million, down from net income of $97.1 million in the same period last year. The fourth quarter of 2017 included a $85.9 million net tax benefit realized from tax reporting adjustments, however.
For 2018, Lantheus had $343.4 million in worldwide revenue, up 3.6% from the $331.3 million reported in 2017. The company had 2018 net income of $40.5 million, compared with $123.4 million in 2017. Looking ahead, Lantheus said it expects 2019 revenue to grow by 4.3% to 5.8% to reach $358 million to $363 million. It also anticipates that earnings per share will range from $1.14 to $1.17.
