Published in Law and Health Weekly, May 13th, 2006
Revenue results for the first quarter of 2006 include:
- Total product sales of $1,644 million, a 39 percent increase over product sales of $1,186 million in the first quarter of 2005.
- Operating revenues of $1,986 million, a 36 percent increase over operating revenues of $1,462 million in the first quarter of 2005.
With the adoption of Statement of Financial Accounting Standards No. 123R as of January 1, 2006, Genentech is reporting employee stock-based compensation expense in its GAAP results for the first time.
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