Avid Bioservices: Fiscal Q1 Earnings Snapshot
TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Tuesday reported fiscal first-quarter earnings of $1.6 million.
On a per-share basis, the Tustin, California-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.
The contract manufacturer posted revenue of $36.7 million in the period.
Avid Bioservices expects full-year revenue in the range of $140 million to $145 million.
Avid Bioservices shares have decreased 45% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.95, a drop of 31% in the last 12 months.