MannKind Corp. (MNKD) reported a significant increase in profit for its third quarter, surpassing analysts' expectations. The company posted a net profit of $11.55 million, equating to $0.04 per share, compared to the $1.72 million, or $0.01 per share, recorded in the third quarter of the previous year. When excluding certain items, MannKind's adjusted earnings for this period were $15.35 million, or $0.06 per share. This result exceeded the consensus forecast of $0.03 per share, based on data from Thomson Reuters, which typically omits extraordinary items in such estimates. Furthermore, MannKind's revenue showed a robust growth of 36.7%, climbing to $70.08 million from $51.25 million in the same quarter last year.
In summary, MannKind Corp.'s financial performance for the third quarter under Generally Accepted Accounting Principles (GAAP) includes the following highlights:
- Earnings (Q3): $11.55 million, up from $1.72 million last year.
- Earnings Per Share (EPS) (Q3): $0.04, compared to $0.01 last year.
- Revenue (Q3): $70.08 million, rising from $51.25 million a year ago.
