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.
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