RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Wednesday reported first-quarter net income of $43.2 million.
The Rancho Cucamonga, California-based company said it had net income of 81 cents per share. Earnings, adjusted for one-time gains and costs, were $1.04 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The specialty pharmaceutical company posted revenue of $171.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $171.1 million.
Amphastar shares have dropped 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.11, an increase of 16% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMPH at https://www.zacks.com/ap/AMPH
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