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Albany Molecular Research Inc. Message Board

  • NVR2LATE4 NVR2LATE4 Aug 4, 1999 4:24 PM Flag

    .28 eps (diluted)....

    Solid numbers...again.....!!

    The contract
    revenue seems in line with projections while royalty
    payments came in higher than expected...

    The big
    run up to 36/37 might now be explained in hindsight
    as the addittion to the Russell 2000!!! I wish that
    AMRI would have anounced that previously on the
    AP.....

    All in all a good move... I would expect the
    brokerages to move y/e estimates up towards .95 eps... but
    that's just one opinion.... Good luck to the AMRI
    longs.... Let's just hope we don't get caught up in the
    market meltdown..

    Bully

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    • coming soon with 6 more new customers and new
      Russell 2000 index.

      http://biz.yahoo.com/bw/990804/ny_albany__1.html
      Wednesday August 4, 4:00 pm Eastern Time

      Company
      Press Release

      Albany Molecular Research, Inc.
      Reports Record Net Revenue for Second
      Quarter

      ALBANY, N.Y.,--(BUSINESS WIRE)--Aug. 4, 1999--Albany
      Molecular Research, Inc. (NASDAQ: AMRI - news) today
      announced operating results for the quarter ended June 30,
      1999. Net contract revenue increased by 61% to $5.0
      million over net contract revenue of $3.1 million in the
      comparable period of 1998. Recurring royalties for the
      second quarter of 1999 were $5.9 million, a 78% increase
      over recurring royalties of $3.3 million in the second
      quarter of 1998. The Company had also received a $1.0
      million non-recurring milestone payment in the second
      quarter of 1998. Royalty revenue is earned from worldwide
      sales of the non-sedating antihistamine Allegra(tm),
      resulting from a 1995 licensing agreement the Company
      entered into with Hoechst Marion Roussel, the
      manufacturer of Allegra(tm).

      Net income for the second
      quarter of 1999 grew by 45% to $4.0 million, or $0.28 per
      share on a diluted basis. Net income for the second
      quarter of 1998 was $2.8 million, or $0.23 per share on a
      diluted basis. Excluding the non-recurring milestone
      payment of $1.0 million, net income for the second
      quarter of 1998 was $2.1 million, or $0.17 per share on a
      diluted basis.

      Net contract revenue for the six
      months ended June 30, 1999 increased 57% to $9.4
      million, compared to net contract revenue of $6.0 million
      in the same period of 1998. For the six-month period
      ended June 30, 1999, recurring royalties increased by
      100% to $10.0 million, compared to $5.0 million during
      the same period in 1998. During the six months ended
      June 30, 1998, the Company had also received $7.4
      million in non-recurring milestone payments and royalties
      attributable to prior periods.

      Net income for the six
      months ended June 30, 1999 was $6.8 million, or $0.50
      per share on a diluted basis. Net income for the
      comparable period of 1998, excluding the non-recurring
      milestones and royalties of $7.4 million, was $3.1 million,
      or $0.25 on a diluted basis. Net income for the six
      months ended June 30, 1998 including all recurring and
      non-recurring items was $7.3 million, or $0.60 per share on a
      diluted basis.

      ``We are pleased with the
      continued strong growth of our core business,'' said Thomas
      E. D'Ambra, Ph.D., Chairman and Chief Executive
      Officer of Albany Molecular Research, Inc. ``Since the
      beginning of this year we have added six new customers as
      well as increased our existing relationships with
      several key customers. We have supported the increased
      business with the addition of 21 scientists through the
      end of the second quarter.''

      ``Strong
      worldwide sales of Allegra(tm) also resulted in better-
      than-expected royalty revenue during the second quarter. The
      growth of our contract revenue coupled with the
      increased royalty revenue resulted in the achievement of
      record net revenue for the second quarter. We also
      directed additional funding towards our business
      development and marketing programs during the quarter. These
      investments into our business are strategically focused to
      enhance our long-term growth.''

      ``We are also
      pleased that Albany Molecular Research's stock was
      recently added to the Russell 2000(r) Index. The inclusion
      in the Russell 2000(r) Index provides additional
      exposure for the Company to the investment community.''
      The Russell 2000(r) Index is comprised of stocks
      included in the Russell 3000(r) Index, which measures the
      performance of the 3,000 largest US companies based on total
      market capitalization. The Frank Russell Company
      publicizes the current average market capitalization of the
      Russell 2000(r) Index as approximately $526 million.

 
AMRI
20.02-0.22(-1.09%)Jul 24 3:59 PMEDT

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