ANI Pharmaceuticals, Inc. [ANIP] has reported a net loss of $18 .8 million for the year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $486.8 million
Based in BAUDETTE, Minnesota, ANI PHARMACEUTICALS INC operates in the MANUFACTURING sector.
In the Consolidated Statements of Operations for the 12 months ended December 31, the financial performance of the company displayed significant growth compared to the previous year.
Net Revenues for the current period were $486.8 million, a substantial increase from $316.4 million in the previous year and $216.1 million in the year before that.
Operating Expenses were well managed during the period. Cost of sales (excluding depreciation and amortization) stood at $181.5 million, up from $138.8 million in the prior year and $100.6 million in the year before that. Research and development expenses were $34.3 million, compared to $22.3 million and $11.4 million in the corresponding periods.
Operating Income for the current period showed significant improvement, amounting to $46.97 million, a stark contrast to the operating loss of $35.28 million in the previous year and $39.79 million loss in the year before that.
Net Income for the period was reported at $18.78 million, a substantial recovery from the net loss of $47.9 million in the prior year and $42.6 million loss in the year before that.
Earnings per Share also demonstrated a positive trend. The Basic Income Per Share for the current period was $0.86, contrasting with a loss of $3.05 in the previous year and $3.40 in the year before that. Similarly, Diluted Income Per Share for the current period was $0.85, compared to a loss of $3.05 in the previous year and $3.40 in the year before that.
Overall, the company's financial performance showed significant improvement across key metrics, reflecting effective cost management and revenue growth strategies implemented during the period.
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