BAUDETTE, Minn. (AP) — BAUDETTE, Minn. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Friday reported fourth-quarter net income of $27.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Baudette, Minnesota-based company said it had net income of $1.18. Earnings, adjusted for one-time gains and costs, came to $2.33 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The drugmaker posted revenue of $247.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $233 million.
For the year, the company reported net income of $78.3 million, or $3.32 per share, swinging to a profit in the period. Revenue was reported as $883.4 million.
ANI expects full-year earnings in the range of $8.83 to $9.34 per share, with revenue in the range of $1.06 billion to $1.12 billion.
ANI shares have declined slightly more than 2% since the beginning of the year. The stock has climbed 40% 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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