Celgene said quarterly earnings more than tripled but sales of its most important product, cancer drug Revlimid, were smaller than expected.
Net income rose to $57.4 million, or 14 cents a share, from $16 million, or 4 cents a share, a year ago.
Excluding one-time items, the company earned 20 cents a share. Analysts had on average expected earnings of 20 cents a share, according to Thomson Financial.
Revenue rose 61.4 percent to $293.4 million, driven by sales of Revlimid, which came in at $146.2 million. Analysts, however, had on average expected Revlimid sales of $150 million, according to a report by Leerink Swann & Co.
The company reiterated its outlook for 2007 of earnings of $1.00 a share on revenue of about $1.3 billion. Analysts on average expect earnings of $1.04 a share.