RANCHO CUCAMONGA, Calif. (AP) _ Amphastar Pharmaceuticals Inc. (AMPH) on Thursday reported first-quarter net income of $868,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Rancho Cucamonga, California-based company said it had profit of 2 cents. Earnings, adjusted for non-recurring costs, came to 10 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The specialty pharmaceutical company posted revenue of $79.8 million in the period.
Amphastar shares have increased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.63, an increase of 16% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMPH at https://www.zacks.com/ap/AMPH