ANI Pharma Q4 Profit Plunges

(RTTNews) - ANI Pharmaceuticals Inc. (ANIP) Tuesday announced fourth quarter net income of $2.876 million or $0.25 per share, compared to $21.006 million or $1.82 per share last year. On an adjusted basis, net income was $6.042 million or $0.52 per share.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $0.60 per share. Analysts estimates usually exclude special items.

Revenue for the quarter declined to $18.035 from $21.037 million in the previous year. Wall Street expected $18.13 million.

Looking ahead to full year 2016, the company expects earnings per share to be $0.30 to $0.65 and adjusted net income per share to be between $2.94 to $3.31. Street projects $2.99 per share on revenue of $91.83 million.

Revenue for the quarter in expected to be between $105 million to $120 million.