BAUDETTE, Minn. (AP) — BAUDETTE, Minn. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Friday reported second-quarter net income of $8.5 million, after reporting a loss in the same period a year earlier.
The Baudette, Minnesota-based company said it had profit of 36 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.80 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The drugmaker posted revenue of $211.4 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $188.4 million.
ANI expects full-year revenue in the range of $818 million to $843 million.
ANI shares have increased 25% since the beginning of the year. The stock has increased 21% 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 ANIP at https://www.zacks.com/ap/ANIP
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