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AMRI Announces First Quarter 2013 Results and Raises EPS Guidance for the Year
Date:5/7/2013

ALBANY, N.Y., May 7, 2013 /PRNewswire/ -- AMRI (NASDAQ: AMRI) today reported financial and operating results for the first quarter ended March 31, 2013.

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

Financial highlights for the first quarter include:

  • Adjusted diluted earnings per share of $0.23, an increase of $0.21 from the prior-year period
  • Contract revenue of $46.5 million, up 9% from the prior-year period
  • Contract margin improved to 19% from 7% in the prior-year period
  • First Quarter 2013 Results Total revenue for the first quarter of 2013 was $59.4 million, an increase of 11% compared to total revenue of $53.7 million reported in the first quarter of 2012.

    Total contract revenue for the first quarter of 2013 was $46.5 million, an increase of 9% compared to contract revenue of $42.7 million reported in the first quarter of 2012. 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 first quarter was $11.0 million, an increase of 13% from $9.7 million in 2012
  • Development/Small Scale Manufacturing contract revenue for the first quarter was $9.1 million, a decrease of 7% from $9.8 million in 2012, which was consistent with our expectations
  • Large Scale Manufacturing contract revenue for the first quarter was $26.4 million, an increase of 14% from $23.2 million in 2012
  • Royalty revenue in the first quarter of 2013 was $12.9 million, an increase of 17% from $11.0 million in the first quarter of 2012. Royalty revenue for the first quarter of 2013 includes royalties from the Allegra® products as well as $1.8 million from the net sales o
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