ANI Pharma Q4 Adj. Profit Declines

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) reported fourth quarter adjusted non-GAAP earnings per share of $0.54, compared to $0.80, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.74, for the quarter. Analysts' estimates typically exclude special items. Adjusted non-GAAP EBITDA was $16.2 million compared to $17.2 million.

Net loss for the fourth quarter of 2021 was $24.1 million as compared to a net loss of $3.6 million, prior year. Loss per share was $1.72, compared to a loss per share of $0.30.

Net revenues were $60.9 million compared to $57.3 million, a year ago. Analysts on average had estimated $56.3 million in revenue.

Net revenues for generic pharmaceutical products were $41.6 million during the three months ended December 31, 2021, an increase of 8% compared to $38.7 million for the same period in 2020. Net revenues for branded pharmaceutical products were $14.7 million during the three months ended December 31, 2021, a decrease of 7% compared to $15.8 million for the same period in 2020.

Cash and cash equivalents were $100.3 million, net accounts receivable was $128.5 million, and face value of debt was $300.0 million as of December 31, 2021.

For fiscal 2022, total company ex-Purified Cortrophin Gel measures, net revenues are projected to be between $260.0 million and $275.0 million, representing approximately 20% to 27% growth as compared to 2021. Adjusted non-GAAP EBITDA is estimated between $70.0 million and $75.0 million, representing 8% to 16% growth as compared to 2021.