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Earnings roundup: Celgene, Quest and Wyndham

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Earnings season continued for New Jersey companies on Thursday, with several reporting results for the three months ended June 30.

Summit-based Celgene Corporation said revenue in its second quarter rose 17 percent, to $1.87 billion, from $1.6 billion in the year-ago period. Net income rose to $598 million, or 72 cents per diluted share, from $478 million, or 56 cents per diluted share, in 2013.

“Strong second quarter operating and financial results demonstrate the significant momentum of our portfolio and support raising our 2014 guidance,” Bob Hugin, chairman and CEO of the biopharmaceutical company, said in a news release.

Quest Diagnostics Inc., based in Madison, said adjusted income for its second quarter was $157 million, or $1.08 per diluted share, compared with $164 million, or $1.06 per diluted share, in the year-ago quarter. Revenue from continuing operations was $1.9 billion, 5 percent higher than in 2013.

"Quest Diagnostics grew revenues 5 percent and increased EPS 2 percent, as we continued to make good progress executing our strategy, and as underlying trends improved for pricing and volume," Steve Rusckowski, president and CEO of the medical testing company, said in a prepared statement.

Wyndham Worldwide Corporation said second-quarter revenue rose 7 percent, to $1.3 billion. The hotel and hospitality company said adjusted net income was $150 million, or $1.17 per diluted share, up from $133 million, or 98 cents per diluted share, in the 2013 period.

“We delivered strong results in the second quarter, improving upon the positive trends from the first quarter," Stephen P. Holmes, chairman and CEO, said in a news release.


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