09:43 AM EST - QLT Inc. : reported second-quarter net income of $8.63 million U.S., or $0.16 U.S. per share, compared with a net loss of $7.44 million U.S., or $0.10 U.S. per share, a year ago. In the second quarter, non-GAAP earnings per share was $0.08 U.S., significantly lower than the GAAP earnings per share as the non-cash foreign exchange gain related to the intercompany loan was eliminated, QLT said. The company's total revenue rose 7.8% in the quarter to $33 million U.S. from $30.62 million U.S. a year ago, driven by higher revenue related to Eligard, which more than offset a 21.6% decline in revenue from Visudyne. Based on strong first half results, QLT lifted its full-year 2009 guidance for Eligard sales to a range of $240 million - $255 million U.S. from its previous guidance range of $220 million - $240 million U.S. The company also increased its adjusted EBITDA outlook to a range of $15 million to $20 million U.S. for the year from the original guidance range of $10 million - $15 million U.S. QLT Inc.
shares T.QLT are trading up $0.11 at $3.85.
