Amphastar: Q3 Earnings Snapshot

Audio By Carbonatix

RANCHO CUCAMONGA, Calif. (AP) — RANCHO CUCAMONGA, Calif. (AP) — Amphastar Pharmaceuticals Inc. (AMPH) on Wednesday reported third-quarter net income of $40.4 million.

The Rancho Cucamonga, California-based company said it had net income of 78 cents per share. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The specialty pharmaceutical company posted revenue of $191.2 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $196.1 million.

Amphastar shares have declined 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.40, an increase of 14% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMPH at https://www.zacks.com/ap/AMPH