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AMRI Announces Third Quarter 2012 Results
Date:11/6/2012

ALBANY, N.Y., Nov. 6, 2012 /PRNewswire/ -- AMRI (NASDAQ: AMRI) today reported financial and operating results for the third quarter and year-to-date period ended September 30, 2012.

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

Highlights for the third quarter include:

  • 14% Increase in Large Scale Manufacturing Revenue Compared With Prior Year
  • Third Consecutive Quarter of Year-Over-Year Improvement in Contract Margin
  • Raises 2012 EPS and Royalty Revenue Guidance and Reaffirms and Tightens 2012 Contract Revenue Guidance
  • Sequential Improvement in Discovery Services Revenue
  • Positive Operating Cash Flow
  • New Royalty Stream from a Long-Standing Customer on a Generic Commercial Product Launch Raising Overall Royalty Revenue for 2012
  • Milestone Recognized for Selection of Fourth Compound for Advancement Under Terms of Bristol Myers Squibb (BMS) License Agreement
  • Third Quarter 2012 Results Total revenue for the third quarter of 2012 was $55.8 million, an increase of 11% compared to the third quarter of 2011.

    Total contract revenue for the third quarter of 2012 was $45.6 million, an increase of 4% compared to total contract revenue of $43.8 million reported in the third 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 third quarter was $8.9 million, consistent with amounts reported in 2011
  • Development/Small-Scale Manufacturing contract revenue for the third quarter was $7.4 million, a decrease of 20% from $9.2 million in 2011
  • Large-Scale Manufacturing contract revenue for the third quarter was $29.3
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