RANCHO CUCAMONGA, Calif. (AP) _ Amphastar Pharmaceuticals Inc. (AMPH) on Thursday reported third-quarter earnings of $1.3 million.
On a per-share basis, the Rancho Cucamonga, California-based company said it had net income of 3 cents. Earnings, adjusted for non-recurring costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The specialty pharmaceutical company posted revenue of $80.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $78.2 million.
Amphastar shares have dropped nearly 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.12, a drop of nearly 1% in the last 12 months.