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AMRI Announces Fourth Quarter 2012 Adjusted EPS of $0.17
Date:2/12/2013

revenue for the full year was $226.7 million, an increase of $19.1 million or 9% compared to $207.6 million in 2011.

Total contract revenue for the full year was $189.9 million, an increase of $20.3 million or 12% from 2011.

  • Contract revenue for Discovery Services for the full year was $37.8 million, essentially flat with 2011.
  • Contract revenue for Development/Small Scale Manufacturing for the full year was $35.7 million, essentially flat with 2011.
  • Contract revenue for Large Scale Manufacturing for the full year was $116.4 million, an increase of 22% compared to $95.6 million in the prior year 2011.
  • Royalty revenue for the full year 2012 was $36.0 million, an increase of 3% from $35.0 million in 2011. Royalty revenue for the full year 2012 includes $4.7 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.

    Total revenue for the full year 2012 and 2011 includes milestone revenue of $0.8 million and $3.0 million, respectively, primarily related to the company's 2005 licensing agreement with Bristol-Myers Squibb (BMS).

    Net loss under U.S. GAAP was $(3.8) million or $(0.12) per basic and diluted share, compared to a net loss of $(32.3) million or $(1.08) per basic and diluted share in 2011. For 2012, net loss under U.S. GAAP includes the impact of non-cash long-lived asset impairment charges of $6.7 million, net of tax, or $0.22 per diluted share, and restructuring charges of approximately $4.2 million, net of tax, or $0.14 per diluted share, related to the company's realignment of its global Discovery Services platform. Net income on an adjusted basis for the year ended December 31, 2012 was $7.5 million or $0.25 per basic and diluted share.

    For a reconciliation of net income (loss) and income (loss) per diluted share as reported to adjusted net income (loss) and adjusted income (
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    SOURCE AMRI
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