Teligent, Inc. Announces First Quarter 2018 Results
Teligent, Inc. (TLGT)
Last teligent, inc. earnings: 11/4 04:15 pm
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US:NASDAQ Investor Relations:
teligent.investorroom.com
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Source: GlobeNewswire
BUENA, N.J., May 08, 2018 (GLOBE NEWSWIRE) -- Teligent, Inc. (NASDAQ:TLGT), a New Jersey-based specialty generic pharmaceutical company, today announced its financial results for the first quarter ended March 31, 2018. First Quarter 2018 Highlights The Company adopted ASC 606: Revenue from Contracts with Customers ("ASC 606") issued by the Financial Accounting Standards Board on January 1, 2018. To understand the financial impact of adopting ASC 606, see the Reconciliation of Revenue (net), Cost of Revenue and Gross Margin table includedAfter adoption of ASC 606, total revenue of $14.5 million in the first quarter of 2018, a decrease of 26% over the same period in 2017. Total revenue was driven primarily by $8.9 million of sales generated by our U.S. generic topical and injectable pharmaceutical products, a decrease of 34% over the same quarter in 2017 and $4.3 million of international revenues, an increase of 46% over the same quarter in 2017After adoption of ASC 606, gross margi
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