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Pharmacyclics, Inc. (Nasdaq: PCYC) reported financial results for its fiscal year and fourth quarter ended June 30, 2012.

PCYC – Financial Results for Fiscal Year and Fourth Quarter Ended June 30, 2012

The non-GAAP (Generally Accepted Accounting Principles) net income reported for the fiscal year ended June 30, 2012 was $21.9 million, or $0.32 and $0.30 per basic and diluted earnings per share, respectively. This compares with a non-GAAP net loss of $28.0 million, or $0.47 loss per share, for the fiscal year ended June 30, 2011. For the quarter ended June 30, 2012, the non-GAAP net loss was $15.1 million, or $0.22 loss per share, which compares with a non-GAAP net loss of $9.1 million, or $0.15 loss per share for the 2011 quarter. See “Use of Non-GAAP Financial Measures” below for a description of our Non-GAAP measures. Reconciliation between certain GAAP and non-GAAP measures is provided at the end of this press release.

The GAAP net income for the fiscal year ended June 30, 2012 was $12.0 million, or $0.17 per basic and diluted earnings per share.  This compares with a GAAP net loss of $35.2 million, or $0.59 loss per share for the year ended June 30, 2011.  For the quarter ended June 30, 2012, the GAAP net loss was $16.9 million, or $0.24 loss per share. This compares with a GAAP net loss of $11.0 million, or $0.18 loss per share for the fiscal quarter ended June 30, 2011.

Revenue for the fiscal year ended June 30, 2012 was $82.0 million, compared to $8.2 million for the fiscal year ended June 30, 2011, an increase of $73.8 million. Revenue for the quarter ended June 30, 2012 was $2.1 million, compared to $1.4 million for the quarter ended June 30, 2011, an increase of $0.7 million.

At June 30, 2012, the Company had cash, cash equivalents and marketable securities of $203.6 million, which compares with $112.3 million at June 30, 2011. Additionally, the Company had $5.8 million due from Janssen Biotech, Inc. at June 30, 2012 in connection with its cost sharing arrangement. As announced on August 1, 2012 and August 20, 2012, we triggered two milestone payment obligations of $50 million each from Janssen under the collaboration and license agreement.

About Pharmacyclics – PCYC

Pharmacyclics^® (PCYC) is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative small-molecule drugs for the treatment of cancer and immune mediated diseases. Presently, PCYC has three product candidates in clinical development and several preclinical molecules in lead optimization. PCYC is committed to high standards of ethics, scientific rigor, and operational efficiency as it moves each of these programs toward potential commercialization.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.