Amneal: 3Q Earnings Snapshot
BRIDGEWATER, N.J. (AP) _ Amneal Pharmaceuticals, Inc. (AMRX) on Wednesday reported third-quarter net income of $7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Bridgewater, New Jersey-based company said it had profit of 5 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The pharmaceutical company posted revenue of $476.5 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $493.2 million.
Amneal expects full-year earnings in the range of 90 cents to 92 cents per share.
Amneal shares have risen 15 percent since the beginning of the year. The stock has risen 7 percent in the last 12 months.