ImClone beats Street EPS

IMCL reported first quarter 2005 diluted EPS of $0.33, beating the Street estimate by a penny, but down 57% from diluted EPS of $0.76 in the same period last year.

Revenues for the first quarter were $85.8 million, down 22% from $110.2 million in the first quarter of 2004. The Street had expected first quarter revenues of $92.6 million. IMCL said first quarter 2004 revenue included a one-time $43 million "catch-up" amortization effect associated with a $250 million milestone payment received last year from Bristol-Myers (BMY). ...