Amphastar Pharmaceuticals, Inc (AMPH) has reported 64.12 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $0.89 million, or $0.02 a share in the quarter, compared with $2.49 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $4.48 million, or $0.09 a share compared with $5.46 million or $0.12 a share, a year ago. Revenue during the quarter dropped 4.54 percent to $56.67 million from $59.37 million in the previous year period. Gross margin for the quarter contracted 166 basis points over the previous year period to 40.28 percent. Total expenses were 97.52 percent of quarterly revenues, up from 93.14 percent for the same period last year. That has resulted in a contraction of 439 basis points in operating margin to 2.48 percent.
Operating income for the quarter was $1.40 million, compared with $4.08 million in the previous year period.
Dr. Jack Zhang, Amphastar’s Chief executie officer, commented: “We continue to execute on our pipeline, having filed four ANDAs in the past two quarters. We will use our extensive research and development capabilities to further expand our pipeline.”
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