This excerpt taken from the ELN 6-K filed Jul 28, 2005.
2005 Outlook Update
Elan reiterates previous guidance of negative Adjusted EBITDA for 2005, including Tysabri related costs and first half of 2005 Tysabri revenues, in the range of $240.0 million to $260.0 million.
Elan expects total revenue for 2005 to be in the range of $460.0 million to $500.0 million, which is made up of product revenue in the range of $430.0 million to $460.0 million and contract revenue in the range of $30.0 million to $40.0 million. Elan had previously expected total revenue to exceed $500.0 million, including $50.0 million to $60.0 million in contract revenue.
Adjusted EBITDA, excluding Tysabri, is targeted to get to break-even by the end of 2005 and, not withstanding the $8.0 million in litigation settlement costs incurred during the second quarter of 2005, to be in the range of negative $50.0 million to negative $70.0 million for the full year.
Elan Second Quarter 2005 Financial Results