Revenue during the quarter surged 51.35 percent to $191.32 million from $126.41 million in the previous year period. Gross margin for the quarter contracted 657 basis points over the previous year period to 20.25 percent. Operating margin for the quarter stood at negative 2.83 percent as compared to a positive 4.94 percent for the previous year period.

Operating loss for the quarter was $5.41 million, compared with an operating income of $6.24 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $36.68 million compared with $26.66 million in the prior year period. At the same time, adjusted EBITDA margin contracted 192 basis points in the quarter to 19.17 percent from 21.09 percent in the last year period.

"We had a number of successes in 2016 that give us confidence in our growth trajectory for 2017 and beyond," said William S. Marth, president and chief executive officer, AMRI. "Through key acquisitions and organic initiatives, we have scaled our business and strengthened our service offerings in complex science, expanded our global footprint and commercial portfolio of APIs to more than 240, and increased our capacity to address the growing demand for pharmaceutical outsourcing.

For financial year 2017, Albany Molecular Research, Inc. forecasts revenue to be in the range of $710 million to $740 million. It projects net loss to be in the range of $12 million to $7 million. It expects adjusted net income to be in the range of $47 million to $52 million. It expects diluted loss per share to be in the range of $0.28 to $0.16. It expects diluted earnings per share to be in the range of $1.08 to $1.20 on adjusted basis for the same period.