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Financial Report: AMRI

Contract revenue up 8% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

AMRI
 
3Q Revenues: $62.5 million (+3%)

3Q Loss: $8.6 million (earnings were $3.7 million 3Q13)

YTD Revenues: $190.0 million (+6%)

YTD Loss:  $1.4 million (earnings were $7.5 million YTD13)

Comments: Contract revenue in the quarter was $57.5 million, up 8%. Royalty revenue was $5.0 million, down 35% as a result of lower product sales/royalties from Allegra products. Discovery and Development Services revenue was $18.0 million, down 7%. API and Drug Product services revenue was $29.7 million, down 7%. “The confluence of a business interruption event at our OsoBio facility, together with lower Discovery and API revenue has resulted in a weak third quarter,” said William S. Marth, AMRI’s President and Chief Executive Officer. “In our Discovery business, we saw lower fee-for-service work, while in our API business, timing of shipments impacted our results this quarter.”

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