ANI Pharmaceuticals Q1 Profit Down, Reaffirms FY17 View

(RTTNews) - ANI Pharmaceuticals Inc. (ANIP, BPAX) Thursday reported derease in first quarter net income to $1.152 milion from $1.346 million in the prior year. On a per share basis, earnings declined to $0.10 from $0.12. On an adjusted basis, earnings were $0.74 per share.

On average, two analysts polled by Thomson Reuters expected the company to earn $0.77 per share. Analysts estimates usually exclude special items.

The quarterly results were impacted by higher expenses and one time excess fair value over over cost of acquired inventory of $1.535 million and expenses related to transaction not consummated of $477 thousand.

Revenue for the quarter rose to $36.63 million from $20.56 million in the previous year. Wall Street expected $39.63 million.

Looking ahead, ANI reaffirmed its full year 2017 guidance. Adjusted earnings per share is expected to be between $3.58 to $3.94. Revenue for the full year projected to be in a range of $181 to $190 million.

For the full year, analysts are looking for $3.87 per share on revenue of $186.95 million.