Amphastar Pharmaceuticals, Inc. (AMPH) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $3.89 million, or $ 0.08 a share in the quarter, against a net loss of $3.01 million, or $0.07 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $6.65 million, or $0.14 a share compared with a net loss of $0.26 million, or $0.01 a share in the last year period.
Revenue during the quarter went up marginally by 0.56 percent to $64.22 million from $63.87 million in the previous year period. Gross margin for the quarter expanded 1547 basis points over the previous year period to 42.99 percent. Operating margin for the quarter period stood at positive 9.03 percent as compared to a negative 5.87 percent for the previous year period.
Operating income for the quarter was $5.80 million, compared with an operating loss of $3.75 million in the previous year period.
Dr. Jack Zhang, Amphastar's chief executive officer, commented: "We are pleased with the Company's profitability for the quarter and look forward to potential product approvals in the coming months."
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