Avid Bioservices: Fiscal Q4 Earnings Snapshot

Associated Press Finance
1 min read
0
In this article:

TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Wednesday reported a fiscal fourth-quarter loss of $309,000, after reporting a profit in the same period a year earlier.

The Tustin, California-based company said it had a loss of less than 1 cent on a per-share basis. Earnings, adjusted for stock option expense and non-recurring costs, were 5 cents per share.

The contract manufacturer posted revenue of $39.8 million in the period.

For the year, the company reported profit of $560,000, or 1 cent per share. Revenue was reported as $149.3 million.

Avid Bioservices expects full-year revenue in the range of $145 million to $165 million.

Avid Bioservices shares have risen 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.56, an increase of roughly 8% 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 CDMO at https://www.zacks.com/ap/CDMO

Advertisement

Recommended Stories