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Financial Report: AMRI

Contract revenue up 35% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

AMRI

4Q Revenues: $86.6 million (+29%)

4Q Loss: $1.9 million (earnings were $4.3 million 4Q13)

FY Revenues: $276.6 million (+12%)

FY Loss: $3.3 million (earnings were $11.8 million FY13)

Comments: Contract revenue for the quarter was $80.7 million, an increase of 35% driven by the Drug Product business, increased capacity utilization, and cost reduction initiatives and facility optimization. Royalty revenue in the quarter was $5.9 million, down 21%, which include $3.4 million in royalties from Allegra products, and $2.5 million from sales of certain amphetamine salts sold by Actavis.

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