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Financial Report: AMRI

Unaudited revenues up 44% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AMRI

4Q Revenues: $67.2 million (+44%)

4Q Earnings: $1.9 million (loss of $24.4 million in 4Q11)

FY Revenues: $226.7 million (+9%)

FY Loss: $3.8 million (loss of $32.3 million FY11)

Comments: Contract revenue in the quarter was $59.1 million, up 50%. Development/Small Scale Manufacturing revenue was $10.4 million, up 41%. Large Scale Manufacturing revenue was $38.1 million, up 69%. Discovery Services revenue was $10.6 million, up 12%. Royalty revenue in the quarter was $8.1 million, up 13%. Loss in 4Q11 was related to charges associated with the company’s closure of its Bothell, WA facility. FY12 loss includes asset impairment charges of $6.7 million and restructuring charges of approximately $4.2 million related to the company’s realignment of its global Discovery Services platform.

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