ANI Pharmaceuticals Turns To Q3 Profit, Raises Full-year Outlook

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) Wednesday reported profit of $9.53 million or $0.45 per share for the third quarter, compared with loss of $9.01 million or $0.55 per share in the same quarter a year ago, driven by growth in product sales. The company also raised its full-year outlook above the Street view.

Excluding one-time items, earnings were $24.27 million or $1.27 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.84 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to $131.83 million from $83.82 million in the previous year. The consensus estimate was for $111.92 million.

For the full year, the company now expects revenue in the range of $468 million - $478 million, up from the previous outlook of $425 million - $445 million. Adjusted EPS outlook has been raised to $4.29 - $4.57 from $3.62 - $4.11. Analysts expect the company to report earnings of $4.08 per share on revenue of $452.94 million for the year.