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AMRI 1Q11

Contract revenue in the quarter was $42.9 million, up 10%.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AMRI

1Q Revenues: $56.9 million (+15%)

1Q Loss: $1.5 million (earnings were $100,000 in 1Q10)

Comments:Contract revenue in the quarter was $42.9 million, up 10%.
Discovery Services accounted for $10.6 million, down 15%, Development/Small Scale Manufacturing was $10.5 million, up 24%, and Large Scale Manufacturing brought in $21.8 million, up 22%. Recurring royalties in the quarter were up 34% to $14 million. Loss in the quarter includes $400,000 in costs related to the ongoing resolution of the FDA warning letter pertaining to the Burlington, MA parenteral dosage form operations and the impact of restructuring charges associated with a March 2011 reorganization of U.S. operations totaling $600,000.

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