May 9, 2017

ALBANY, N.Y., May 9, 2017 /PRNewswire/ — AMRI (NASDAQ: AMRI) today reported financial and operating results for the first quarter ended March 31, 2017 and provided an update to its outlook for 2017.

Highlights:

  • First quarter total revenue of $163.8 million, up 55% from 2016
  • First quarter basic and diluted EPS $(0.25); non-GAAP diluted EPS of $0.13
  • First quarter net loss of $(10.7) million; non-GAAP net income of $5.7 million
  • First quarter adjusted EBITDA of $24.0 million, up 83% from 2016
  • Company confirms 2017 financial guidance

Non-GAAP net income, non-GAAP diluted EPS and adjusted EBITDA are non-GAAP financial measures. For a discussion of these measures and reconciliations to U.S. GAAP measures, see “Non-GAAP Financial Measures” and Tables 1, 2 and 3.

“We delivered an excellent first quarter, driven by 56 percent growth in contract revenue, 7 percent on an organic basis, including double digit organic growth in our Discovery, Development and Analytical Services (DDS) and Active Pharmaceutical Ingredient (API) businesses,” said William S. Marth, AMRI’s president and chief executive officer. “GAAP income from operations increased $6 million, a 150% increase quarter over quarter,   and adjusted EBITDA increased $11 million, an 83% increase quarter over quarter, illustrating strong and efficient execution and leverage across our operations. We are confident that these trends will continue through the year and are maintaining our outlook for 2017, which includes 28% growth of contract revenue, 7% growth of organic contract revenue, and double digit earnings growth at the midpoint.”

 

Read the complete release here.

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