RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Wednesday reported first-quarter earnings of $25.3 million.
The Rancho Cucamonga, California-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The specialty pharmaceutical company posted revenue of $170.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $171.7 million.
Amphastar shares have declined 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.43, a decline of 43% in the last 12 months.
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