TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Monday reported a loss of $1.1 million in its fiscal third quarter.
On a per-share basis, the Tustin, California-based company said it had a loss of 5 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The contract manufacturer posted revenue of $13.8 million in the period.
In the final minutes of trading on Monday, the company's shares hit $4.10. A year ago, they were trading at $2.33.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDMO at https://www.zacks.com/ap/CDMO