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BAUDETTE, Minn. (AP) — BAUDETTE, Minn. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Monday reported first-quarter net income of $1.4 million, after reporting a loss in the same period a year earlier.
The Baudette, Minnesota-based company said it had profit of 6 cents per share. Earnings, adjusted for one-time gains and costs, were $1.17 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The drugmaker posted revenue of $106.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $83 million.
ANI expects full-year earnings in the range of $2.99 to $3.45 per share, with revenue in the range of $385 million to $410 million.
ANI shares have declined roughly 3% since the beginning of the year. The stock has increased 43% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ANIP">Zacks stock report on ANIP at https://www.zacks.com/ap/ANIP