RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Thursday reported first-quarter earnings of $6.4 million.
On a per-share basis, the Rancho Cucamonga, California-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, were 42 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The specialty pharmaceutical company posted revenue of $171.2 million in the period.
Amphastar shares have dropped 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.03, a fall of nearly 2% in the last 12 months.
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