ANI Pharmaceuticals, Inc. (ANIP) has reported a 44.22 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $2.54 million, or $0.22 a share in the quarter, compared with $4.56 million, or $0.39 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $12.68 million, or $1.09 a share compared with $9.29 million or $0.80 a share, a year ago. Revenue during the quarter surged 92.90 percent to $38.52 million from $19.97 million in the previous year period. Gross margin for the quarter contracted 2695 basis points over the previous year period to 56.73 percent. Total expenses were 79.44 percent of quarterly revenues, up from 57.69 percent for the same period last year. That has resulted in a contraction of 2175 basis points in operating margin to 20.56 percent.
Operating income for the quarter was $7.92 million, compared with $8.45 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $16.35 million compared with $11.62 million in the prior year period. At the same time, adjusted EBITDA margin contracted 1572 basis points in the quarter to 42.45 percent from 58.17 percent in the last year period.
Arthur S. Przybyl, president and chief executive officer, stated, "ANI had another record quarter, with revenues, adjusted non-GAAP EBITDA, and adjusted non-GAAP net income per diluted share increasing 93%, 41%, and 36%, respectively, as compared to the prior year quarter. These increases are the direct result of our nine product launches in the first three quarters of 2016. We expect to launch at least one additional product before year end, for a total of eleven."
For fiscal year 2016, ANI Pharmaceuticals, Inc. forecasts revenue to be in the range of $128 million to $134 million. It expects diluted earnings per share to be in the range of $0.60 to $0.75. It expects diluted earnings per share to be in the range of $4 to $4.25 on adjusted basis for the same period.
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