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AMRI Announces Second Quarter 2012 Results
Date:8/1/2012

ALBANY, N.Y., Aug. 1, 2012 /PRNewswire/ -- AMRI (NASDAQ: AMRI) today reported financial and operating results for the second quarter ended June 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120229/NY61160LOGO )

Financial and Operational Highlights for the second quarter include:

  • $2.2 Million Improvement In Net Income, As Adjusted, To $1.7 Million Compared With Prior Year
  • Generated Positive Free Cash Flow in Quarter
  • Completed Relocation of Custom Library Synthesis Resources to India
  • Raising Full Year Earnings Guidance
  • Second Quarter 2012 Results
    Total revenue for the second quarter of 2012 was $50 million, a decrease of 7% compared to total revenue of $53.9 million reported in the second quarter of 2011.

    Total contract revenue for the second quarter of 2012 was $42.4 million, a decrease of 3% compared to total contract revenue of $43.5 million reported in the second quarter of 2011. Total contract revenue encompasses revenue from AMRI's Discovery Services, Development and Small Scale Manufacturing, and Large Scale Manufacturing business components.

  • Discovery Services contract revenue for the second quarter was $8.6 million, a decrease of 3% from $8.9 million in 2011
  • Development/Small Scale Manufacturing contract revenue for the second quarter was $8.1 million, a decrease of 11% from $9.1 million in 2011
  • Large Scale Manufacturing contract revenue for the second quarter saw continued positive momentum at $25.7 million compared to $25.5 million in 2011
  • Recurring royalties in the second quarter of 2012 were $7.5 million, an increase of 1% from $7.4 million in the second quarter of 2011. AMRI earns royalties from worldwide sales of the non-sedating antihistamine Allegra® (Telfast® outside th
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