BAUDETTE, Minn. (AP) 鈥� BAUDETTE, Minn. (AP) 鈥� ANI Pharmaceuticals Inc. (ANIP) on Friday reported first-quarter profit of $29.5 million.
The Baudette, Minnesota-based company said it had net income of $1.28 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $2.05 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The drugmaker posted revenue of $237.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $205.4 million.
ANI expects full-year earnings in the range of $9.19 to $9.69 per share, with revenue in the range of $1.08 billion to $1.14 billion.
ANI shares have climbed slightly more than 6% since the beginning of the year. The stock has climbed 18% in the last 12 months.
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