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ANI Pharmaceuticals Reports Net Revenues of $7.8 million, adjusted Non-GAAP EBITDA of $1.7 Million, and EPS of $0.13 for the Third Quarter Ended September 30, 2013
Date:11/7/2013

BAUDETTE, Minn., Nov. 7, 2013 /PRNewswire/ -- ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) today reported results for the three and nine months ended September 30, 2013.

Third quarter and year-to-date highlights include:

  • Third quarter net revenues of $7.8 million, reflecting an increase of 56% versus $5.0 million for the same period in 2012.
  • Third quarter net income from continuing operations of $1.0 million and third quarter EPS of $0.13.
  • Third quarter adjusted non-GAAP net income from continuing operations of $1.5 million and adjusted non-GAAP EPS from continuing operations of $0.16.
  • Third quarter adjusted non-GAAP EBITDA of $1.7 million, reflecting an increase of 539% versus the prior year period.
  • ANI announced an agreement for the development and marketing of an oral soft gel prescription product with Sofgen Pharmaceuticals.
  • Year-to-date net revenues of $19.5 million increased 30% versus $15.0 million in the first nine months of 2012.
  • Year-to-date adjusted non-GAAP EBITDA of $3.6 million increased 107% over the prior year period.
  • Net revenues and Adjusted Non-GAAP EBITDAThree months ended September 30,Nine months ended  September 30,2013201220132012Net revenues

    $  7,836,222

    $  5,036,024

    $  19,549,670

    $ 15,049,619Adjusted Non-GAAP EBITDA(a)

    $  1,692,667

    $
    264,962

    $
    3,579,067

    $   1,728,030(a) See Table 2 for US GAAP reconciliation.Arthur S. Przybyl, President and CEO, stated, "Our revenues continue to exhibit strong organic growth, increasing by 56% to $7.8 million in the third quarter.  At the same time, our cost of sales decreased by 12 percentage points, from 46% to 34%, as we continue to grow sales in our higher margin products.  We expect our fourth quart
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    SOURCE ANI Pharmaceuticals, Inc.
    Copyright©2012 PR Newswire.
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