GILD Summary: Lots of Life By Ben Thomas About this article: Gilead Science reported a strong quarter in the face of a weakening economic backdrop. For the quarter, the company posted EPS of 55 cents on total revenue of $1.37 billion. Product revenues came in at $1.34 billion on strength from Atripla and Truvada (HIV Franchise). Gross margins came in at 78%. Truvada sales increased 34% year over year to $549 million (about $20 million above my estimate). Atripla sales increased 77% year over year to $428 million due to strength in U.S. and successful European launch (about $15 million above the Street estimates). Viread sales increased 5% to $156 million (about $5 million above consensus). Guidance The company reiterated full-year guidance of $4.9 billion-$5 billion but believe it can reach the higher end of target. This implies just slightly higher fourth-quarter revenues. The company is expecting 77%-79% non-GAAP product margins. It is targeting $650 million-$670 million... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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