Avid Bioservices: Fiscal Q3 Earnings Snapshot

TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Monday reported fiscal third-quarter profit of $461,000.

On a per-share basis, the Tustin, California-based company said it had profit of 1 cent. Earnings, adjusted for stock option expense and non-recurring costs, were 7 cents per share.

The contract manufacturer posted revenue of $38 million in the period.

Avid Bioservices expects full-year revenue in the range of $145 million to $150 million.

Avid Bioservices shares have risen slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.82, a decline of 26% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDMO at https://www.zacks.com/ap/CDMO

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