Biogen Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017
For the year, the company reported total revenues of $11,448.8 million, income from operations of $5,150.4 million, income before income tax expense and equity in loss of investee, net of tax of $4,933.0 million, net income attributable to the company of $3,702.8 million, diluted earnings per share attributable to the company of $16.93 million, non-GAAP earnings per share - diluted of $20.22 million, non-GAAP net income attributable to the company of $4,422.7 million compared to the total revenues of $10,763.8 million, income from operations of $4,891 million, income before income tax expense and equity in loss of investee, net of tax of $4,767.3 million, net income attributable to the company of $3,547 million, diluted earnings per share attributable to the company of $15.34 million, non-GAAP earnings per share - diluted of $17.01, non-GAAP net income attributable to the company of $3,931.9 million for the previous year.
For the full year of 2017, the company expects revenue to be approximately $11.1 billion to $11.4 billion. GAAP diluted EPS is expected to be between $18.00 and $18.80. Non-GAAP diluted EPS is expected to be between $20.45 and $21.25. GAAP net income attributable to the company of $3,920.0 million or $18.40 per diluted share and Non-GAAP net income attributable to the company of $4,445.0 million or $20.85 per share. From a tax perspective, the company anticipates tax rate for 2017 to be largely comparable to 2016.