Stock Analysis on Net
Stock Analysis on Net

Celgene Corp. (NASDAQ:CELG)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 31, 2019.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Celgene Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Net product sales
Cost of goods sold, excluding amortization of acquired intangible assets
Gross profit
Other revenue
Research and development
Selling, general and administrative
Amortization of acquired intangible assets
Acquisition/integration related income (charges) and restructuring, net
Operating income
Interest and investment income, net
Interest expense
Other income (expense), net
Other income and (expense)
Income (loss) before income taxes
Income tax provision
Net income (loss)

Based on: 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The financial data demonstrates several notable trends and variations over the analyzed periods.

Net Product Sales
There is a clear the upward trajectory in net product sales, increasing steadily from 1,708 million USD in Q1 2014 to 4,518 million USD by Q3 2019, indicating consistent revenue growth over the timeframe.
Cost of Goods Sold (excluding amortization of acquired intangibles)
The reported costs show relatively minor fluctuations around a baseline level, ranging mostly between -86 million to about -167 million USD. There is no consistent upward trend, suggesting effective cost control relative to increasing sales volumes.
Gross Profit
Gross profit increased significantly in line with sales, from 1,621 million USD in Q1 2014 to 4,351 million USD by Q3 2019. This reflects improved profitability at the gross margin level supported by growing revenues and stable cost of goods sold.
Other Revenue
Other revenue remains minor and variable, generally below 30 million USD and often fluctuating with no clear pattern, thus representing a limited component of total income.
Research and Development Expenses
R&D expenses show high variability with notable spikes in Q2 2015 (−1,110 million USD), Q3 2016 (−1,654 million USD), and Q4 2017 (−2,738 million USD), indicating significant investment phases or possible one-time charges. Despite fluctuations, expenditure levels remain high, reflecting sustained focus on product development.
Selling, General and Administrative Expenses
SG&A expenses fluctuate between approximately −494 million and −939 million USD, without a clear upward or downward trend. This suggests a consistent level of overhead and administrative costs relative to company scale.
Amortization of Acquired Intangible Assets
Amortization expenses show moderate increases, averaging around −60 to −127 million USD, with some periods exhibiting elevated charges, aligning with acquisition-related intangible assets amortization schedules.
Acquisition/Integration Related Income (Charges) and Restructuring, Net
This line item exhibits considerable volatility, including significant charges in Q3 2015 (−226 million USD), offset by large income in Q4 2017 (1,425 million USD). Such fluctuations denote episodic integration costs and restructuring-related gains/losses linked to corporate actions.
Operating Income
Operating income sees an upward trend overall with some fluctuations, starting at 362 million USD in Q1 2014 and rising to over 2,264 million USD by Q3 2019. Intermittent dips coincide with periods of increased restructuring charges or spikes in R&D, but the general direction suggests improving operational profitability.
Interest and Investment Income, Net
Interest and investment income increased moderately from single-digit millions to 45 million USD, indicating improved returns or invested capital growth over time.
Interest Expense
Interest expenses remain relatively stable around −29 to −192 million USD, with a slight upward trend latterly, likely reflecting increased debt levels or interest rate changes.
Other Income (Expense), Net
Other income and expenses are highly volatile, with significant negative values such as −431 million USD in Q4 2016 and large positive spikes like 965 million USD in Q4 2017. This volatility suggests irregular one-time income or expense events affecting the bottom line.
Income (Loss) Before Income Taxes
Pre-tax income broadly increases from 332 million USD to nearly 1,917 million USD, displaying positive growth despite episodic downturns corresponding with prior noted fluctuations in restructuring and other income or expense.
Income Tax Provision
Tax expense varies significantly, including unusual negative values (e.g., −1,212 million USD in Q4 2017), likely reflecting deferred taxes, tax credits, or other tax accounting treatments impacting provision amounts. Otherwise, it generally follows income before taxes with occasional reductions.
Net Income (Loss)
Net income trends generally upward from 280 million USD in Q1 2014 to a peak of approximately 1,691 million USD in Q3 2019, with some quarters showing losses or declines such as Q4 2017 (−81 million USD), which align with extraordinary gains or charges in other areas.

In summary, the company exhibits strong revenue growth and improved gross and operating profitability over the period, supported by consistent cost control and significant investments in research and development. Episodic volatility in restructuring charges and other income/expense accounts impacts profitability in certain quarters but does not obscure the overall positive performance trajectory. Net income improvement corresponds to operational gains, with tax provisions exhibiting expected variability related to income fluctuations and accounting treatments.