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Diplomat Pharmaceuticals posts 1Q profit

FLINT, Mich. (AP) _ Diplomat Pharmacy Inc. (DPLO) on Monday reported first-quarter earnings of $4.4 million.

The Flint, Michigan-based company said it had profit of 6 cents per share. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The independent specialty pharmacy posted revenue of $1.08 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.09 billion.

Diplomat Pharmaceuticals expects full-year earnings in the range of 54 cents to 70 cents per share, with revenue in the range of $4.3 billion to $4.7 billion.

Diplomat Pharmaceuticals shares have increased 30 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.33, a drop of 43 percent 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 DPLO at https://www.zacks.com/ap/DPLO


Keywords: Diplomat Pharmaceuticals, Earnings Report