Press release
SIGA Reports Financial Results for Three and Twelve Months Ended December 31, 2023
• Increased Product Sales to $131 Million in 2023 • Grew Pre-tax Operating Income to $84 Million in 2023 • Declared Today a Special Cash Dividend of $0.60 per
About this update from Siga Technologies Inc.
[{"type":"text","content":"• Increased Product Sales to $131 Million in 2023 • Grew Pre-tax Operating Income to $84 Million in 2023 • Declared Today a Special Cash Dividend of $0.60 per Share • Corporate Update Conference Call Today at 4:30 PM ET NEW YORK, March 12, 2024 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and twelve months ended December 31, 2023. “In 2023, SIGA had approximately $131 million in product revenues and approximately $84 million of pre-tax operating income,” stated Diem Nguyen, Chief Executive Officer. “These financial results represent a significant increase over the 2022 financial results; product revenues increased 51% over the corresponding 2022 amount, and pre-tax operating income year increased 96% over the corresponding 2022 amount. The overall financial performance, and growth over prior-year financial results, highlight the strength, resilience and growth potential of SIGA’s business model and are a testament to SIGA’s long-standing leadership within the public health sector. We look forward to continuing our strong performance and sector leadership in 2024.” Summary Financial Results ($ in millions, except per share amounts)Three Months Ended December 31 Year EndedDecember 31 2023 2022 2023 2022Product Sales(1)$115.7 $5.1 $130.7 $86.7Total revenues$116.5 $11.4 $139.9 $110.8Operating income (loss)(2)$91.7 ($1.8) $83.6 $42.7Income (loss) before income taxes(2)$92.9 ($1.2) $87.8 $44.1Net income (loss)$72.3 ($0.8) $68.1 $33.9Diluted income (loss) per share$1.01 ($.01) $0.95 $0.46 (1) Includes supportive services related to product sales. (2) Operating income (loss) excludes, and income (loss) before income taxes includes, other income and adjustments to the fair value of the Company’s outstanding warrant. Both line items exclude the impact of income taxes. 2023 Key Activity: In 2023, SIGA had $131 million of product sales, including: approximately $98 million of fourth quarter product sales of oral TPOXX to the U.S. Strategic National Stockpile (“SNS”); approximately $11 million of product sales of oral TPOXX to the U.S. Department of Defense, of which approximately $6 million was recognized in the fourth quarter; and approximately $21 million of international sales, of which approximately $12 million was recognized ...