Total contract revenue for the fourth quarter of 2012 was $59.1 million, an increase of 50% compared to total contract revenue of $39.4 million reported in the fourth quarter of 2011. Total contract revenue encompasses revenue from AMRI's Discovery Services, Development and Small Scale Manufacturing, and Large Scale Manufacturing business components.
Royalty revenue in the fourth quarter of 2012 was $8.1 million, an increase of 13% from $7.2 million in the fourth quarter of 2011. Royalty revenue for the fourth quarter of 2012 includes royalties from the Allegra products as well as $1.4 million earned by the company on net sales of a generic product for which the company also manufactures the active pharmaceutical ingredient at its Rensselaer, N.Y. facility.
Net income under U.S. GAAP was $1.9 million, or $0.07 per basic and diluted share, in the fourth quarter of 2012, compared to a U.S. GAAP net loss of $(24.4) million, or $(0.81) per basic and diluted share for the fourth quarter of 2011. During the fourth quarter of 2012, net income under U.S. GAAP includes the impact of non-cash long-lived asset impairment charges of $2.8 million, net of tax, or $0.09 per diluted share, and restructuring charges of approximately $0.6 million, net of tax, or $0.02 per diluted share, primarily related to the company's previously announced decision to close its Bothell, WA facility. Net income on an adjusted basis was $5.1 million or $0.17 per basic and diluted share.
Full Year 2012 ResultsTotal
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