11.07.14
AMRI
3Q Revenues: $62.5 million (+3%)
3Q Loss: $8.6 million (earnings were $3.7 million 3Q13)
YTD Revenues: $190.0 million (+6%)
YTD Loss: $1.4 million (earnings were $7.5 million YTD13)
Comments: Contract revenue in the quarter was $57.5 million, up 8%. Royalty revenue was $5.0 million, down 35% as a result of lower product sales/royalties from Allegra products. Discovery and Development Services revenue was $18.0 million, down 7%. API and Drug Product services revenue was $29.7 million, down 7%. "The confluence of a business interruption event at our OsoBio facility, together with lower Discovery and API revenue has resulted in a weak third quarter," said William S. Marth, AMRI's President and Chief Executive Officer. "In our Discovery business, we saw lower fee-for-service work, while in our API business, timing of shipments impacted our results this quarter.”
3Q Revenues: $62.5 million (+3%)
3Q Loss: $8.6 million (earnings were $3.7 million 3Q13)
YTD Revenues: $190.0 million (+6%)
YTD Loss: $1.4 million (earnings were $7.5 million YTD13)
Comments: Contract revenue in the quarter was $57.5 million, up 8%. Royalty revenue was $5.0 million, down 35% as a result of lower product sales/royalties from Allegra products. Discovery and Development Services revenue was $18.0 million, down 7%. API and Drug Product services revenue was $29.7 million, down 7%. "The confluence of a business interruption event at our OsoBio facility, together with lower Discovery and API revenue has resulted in a weak third quarter," said William S. Marth, AMRI's President and Chief Executive Officer. "In our Discovery business, we saw lower fee-for-service work, while in our API business, timing of shipments impacted our results this quarter.”