Avid Bioservices: Fiscal Q2 Earnings Snapshot

Associated Press Finance
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TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Thursday reported a loss of $9.5 million in its fiscal second quarter.

The Tustin, California-based company said it had a loss of 15 cents per share. Losses, adjusted for one-time gains and costs, came to 12 cents per share.

The contract manufacturer posted revenue of $25.4 million in the period.

Avid Bioservices expects full-year revenue in the range of $137 million to $147 million.

Avid Bioservices shares have declined 62% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.29, a decline of 59% in the last 12 months.

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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

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