Immunomedics Inc. reported consolidated earnings results for the third quarter and nine months ended March 31, 2012. For the quarter, the company reported total revenues of $1,736,466, compared to $970,703 for the last year. Operating loss was $8,537,357, compared to $7,606,043 for the last year. Income before income tax was $8,217,076, compared to loss of $7,514,700 for the last year. Net income attributable to stockholders was $8,264,738 or $0.11 per diluted share, compared to net loss attributable to stockholders of $7,266,281 or $0.10 per diluted share for the last year. The increase of $0.7 million in total revenues this quarter was primarily due to a $0.7 million increase in research and development revenue from the increase in the number of grants as well as the timing of research activities. The $15.6 million difference in net income this quarter resulted mainly from the $16.7 million net proceeds from a settlement in the company's previously disclosed arbitration proceeding before the Financial Industry Regulatory Authority (FINRA) against a broker-dealer relating to the company's prior investment in certain securities offset in part by higher research and development expenses. For the nine months, the company reported total revenues of $3,600,035, compared to $31,770,787 for the last year. The decrease of $28.2 million this period was primarily the result of $28.4 million of non-recurring license fee revenue from an amendment to the Licensing Agreement with UCB during the second quarter of fiscal year 2012. Operating loss was $23,925,730, compared to operating income of $8,426,601 for the last year. Loss before income tax was $4,566,838, compared to income before income tax of $8,462,063 for the last year. Net loss attributable to stockholders was $4,509,289 or $0.06 per diluted share, compared to net income attributable to stockholders of $8,326,479 or $0.11 per diluted share for the last year. The decrease in net income was primarily due to the non-recurring license fee revenue from the UCB sublicensing amendment in the 2012 period, offset in part by the net proceeds from the FINRA settlement and the business insurance claims in the 2013 period.

Immunomedics Inc., Q3 2013 Earnings Call, May 09, 2013

Immunomedics Inc. announced that they will report Q3, 2013 results at 5:00 PM, Eastern Standard Time on May 08, 2013