PRINCETON, N.J. (AP) — PRINCETON, N.J. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Thursday reported third-quarter net income of $35.1 million.
The Princeton, New Jersey-based company said it had net income of $1.51 per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.70 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The drugmaker posted revenue of $290.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $280.2 million.
ANI expects full-year earnings in the range of $9.37 to $9.71 per share, with revenue in the range of $1.09 billion to $1.13 billion.
ANI shares have declined 9% since the beginning of the year. The stock has declined 24% 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
