RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Thursday reported second-quarter net income of $31 million.
On a per-share basis, the Rancho Cucamonga, California-based company said it had profit of 64 cents. Earnings, adjusted for one-time gains and costs, were 85 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The specialty pharmaceutical company posted revenue of $174.4 million in the period.
Amphastar shares have dropped 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.63, a fall of 44% in the last 12 months.
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