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Financial Report: AMRI

Revenues up 11% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AMRI

1Q Revenues: $59.4 million (+11%)

1Q Earnings: $6.5 million (loss of $3.8 million 1Q12)

Comments: Total contract revenue for the quarter was $46.5 million, up 9%, with Discovery Services revenue up 13% to $11.0 million, Development/Small Scale Manufacturing revenue up 7% to $9.1 million, and Large Scale Manufacturing revenue up 14% to $26.4 million. Royalty revenue was $12.9 million, up 17%, which includes royalties from Allegra products, as well as $1.8 million from sales of certain amphetamine salts sold by Actavis.

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