RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Thursday reported second-quarter profit of $30.3 million.
The Rancho Cucamonga, California-based company said it had net income of 67 cents per share. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The specialty pharmaceutical company posted revenue of $183.9 million in the period.
Amphastar shares have fallen 26% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.81, a drop of roughly 5% in the last 12 months.
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