MannKind, BlackLine Report Quarterly Results

MannKind Corp. beat Wall Street estimates on earnings but missed on revenue for the third quarter. The Westlake Village drug developer reported on Thursday a net loss of $24.2 million (-16 cents a share) on revenue of $4.5 million for the quarter ending Sept. 30. That compares to a net loss of $32.9 million (-31 cents) on revenue of $2 million in the same period a year earlier. The one analyst following the company estimated earnings of -18 cents on revenue of $5.3 million, according to Thomson Financial Network. During the quarter, sales of its inhalable insulin Afrezza reached $4.4 million, a 121 percent increase from the $2 million in revenue from the third quarter of last year. Shares in MannKind (MNKD) closed up 9 cents, or nearly 5 percent, to $1.92 on the Nasdaq. BlackLine Inc. beat Wall Street expectation on revenue in the third quarter. The Woodland Hills accounting software developer reported on Thursday adjusted net income of $4.1 million (7 cents a share) on revenue of $58.7 million for the quarter ending Sept. 30. That compares with adjusted net income of $286,000 (1 cent) on revenue of $45.4 million in the same period a year earlier. Analysts on average expected revenue of $57.7 million, according to Thomson Financial Network. No earnings average was given. “We continue to see strong demand globally and a large and growing market opportunity ahead of us as companies across all industries increasingly look to modernize, automate and transform their businesses,” Chief Executive Therese Tucker said in a statement. Shares in BlackLine (BL) closed up 63 cents, or more than 1 percent, to $47.01 on the Nasdaq.