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Impax Labs reports 4Q loss

HAYWARD, Calif. (AP) _ Impax Laboratories Inc. (IPXL) on Thursday reported a loss of $301.1 million in its fourth quarter.

The Hayward, California-based company said it had a loss of $4.18 per share. Earnings, adjusted for one-time gains and costs, came to 11 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The pharmaceutical company posted revenue of $182.9 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $196.3 million.

For the year, the company reported that its loss narrowed to $469.3 million, or $6.53 per share. Revenue was reported as $775.8 million.

Impax Labs shares have risen 23 percent since the beginning of the year. The stock has climbed 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 IPXL at https://www.zacks.com/ap/IPXL