United Therapeutics Net Income Soars Over 112 Percent

University of Maryland, Wisdom of Einstein Testudo mascot purchased by United Therapeutics, faces the company's headquarters under construction in downtown Silver Spring.

Silver Spring-based United Therapeutics Corporation (NASDAQ: UTHR), the largest independent biotechnology company in the Baltimore-Washington area measured by market value, announced financial results today that far exceeded  analyst estimates.

In the third quarter ended September 30, 2011, United Therapeutics reported total revenues of $201.7 million, a year-over-year increase of 20 percent from $168.6 million. Revenues beat the average analyst estimate of $194.77 million.

Net income more than doubled to $84.4 million or $1.45 per basic share, a more than 112 percent increase from the $39.7 million or $0.70 per basic share in the third quarter of 2010. The results caught analysts off guard; the average analyst estimate was only $0.73 cents per basic share and actual results beat the high estimate of $1.09 by $0.36 cents.

The company is currently building the final phase of its urban headquarters in downtown Silver Spring.

Pre-market, United Therapeutics stock price is up 3.64 percent or $1.51 to $42.99 a share.

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