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Financial Report: AMRI

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AMRI

1Q Revenues: $48.4 million (+12%)

1Q Earnings: $3.2 million (+70%)

Comments: Total contract revenue in the quarter was $41.2 million, up 14%. Revenue from Discovery Services was $9.9 million, up 21%. Development and Small Scale Manufacturing revenue was $10.3 million, up 17%. Large Scale Manufacturing revenue was up 9% to $21 million. Royalties from Allegra were flat at $7.1 million. In the quarter, the company restructured its Large Scale Manufacturing operations contributing to an improvement in this segment’s gross margin from 4% during 1Q2006 to 14% during 1Q2007.

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