Breaking News

Financial Report: AMRI 

May 6, 2014

Decline in royalties impacts results


1Q Revenues: $59.3 million (flat)

1Q Earnings: $3.5 million (-46%)

Comments: Contract revenue was $51.0 million in the quarter, up 10%. Royalties were $8.3 million, down 36% due to generic competition for Allegra in Japan. Discovery Services and Development / Small Scale Manufacturing (DDS) contract revenue for the first quarter was $19.5 million, a decrease of 3%. Decreases in Discovery revenues were partially offset by increases in Development/Small Scale Manufacturing. Large Scale Manufacturing contract revenue was $31.5 million, up 19%.
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