11.08.11
AMRI 3Q11
3Q Revenues: $50.2 million (flat)
3Q Loss: $5.9 million (loss of $9.9 million 3Q10)
YTD Revenues: $161.1 million (+8%)
YTD Loss: $7.9 million (loss of $13.8 million YTD10)
Comments: Total contract revenue for the quarter was $43.8 million (+2%). Discovery Services revenue was $8.9 million (-29%). Development/Small-Scale Manufacturing revenue was $9.2 million (+8%). Large-Scale Manufacturing revenue was $25.7 million (+17%). The company will end internal R&D programs, excluding its generic program, and will immediately wind down programs to focus efforts on partnering/out-licensing opportunities. These actions are expected to save approximately $7 million in operating expenses in 2012.
3Q Revenues: $50.2 million (flat)
3Q Loss: $5.9 million (loss of $9.9 million 3Q10)
YTD Revenues: $161.1 million (+8%)
YTD Loss: $7.9 million (loss of $13.8 million YTD10)
Comments: Total contract revenue for the quarter was $43.8 million (+2%). Discovery Services revenue was $8.9 million (-29%). Development/Small-Scale Manufacturing revenue was $9.2 million (+8%). Large-Scale Manufacturing revenue was $25.7 million (+17%). The company will end internal R&D programs, excluding its generic program, and will immediately wind down programs to focus efforts on partnering/out-licensing opportunities. These actions are expected to save approximately $7 million in operating expenses in 2012.