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Amphastar Pharmaceuticals Reports Financial Results for the Three Months and Full Year Ended December 31, 2019
Reports Net Revenues of $83.4 Million for the Three Months Ended December 31, 2019 RANCHO CUCAMONGA, Calif., March 12, 2020 (GLOBE NEWSWIRE) -- Amphastar
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $83.4 Million for the Three Months Ended December 31, 2019\n RANCHO CUCAMONGA, Calif., March 12, 2020 (GLOBE NEWSWIRE) -- Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months and full year ended December 31, 2019. Fourth Quarter Highlights Net revenues of $83.4 million for the fourth quarterGAAP net loss of $1.0 million, or $(0.02) per share, for the fourth quarterAdjusted non-GAAP net income of $3.6 million, or $0.07 per share, for the fourth quarter Full Year Highlights Net revenues of $322.4 million for the fiscal yearGAAP net income of $48.9 million, or $0.98 per share, for the fiscal yearAdjusted non-GAAP net income of $17.8 million, or $0.36 per share, for the fiscal year Dr. Jack Zhang, Amphastar’s Chief Executive Officer, commented: “We finished 2019 with very strong sales of Primatene® Mist, with fourth quarter sales essentially equaling sales in the previous three quarters combined. Additionally, we have made great progress with our pipeline of product candidates, as we continue to move forward with clinical trials for both our insulin and inhalation products. In addition, the FDA accepted two more of our ANDAs.” Three Months Ended Year Ended December 31, December 31, 2019 2018 2019 2018 (in thousands, except per share data)Net revenues $ 83,383 $ 89,690 $ 322,357 $ 294,666 GAAP net income (loss) attributable to Amphastar $ (1,026) $ 1,867 $ 48,939 $ (5,738)Adjusted non-GAAP net income attributable to Amphastar* $ 3,639 $ 6,231 $ 17,810 $ 10,399 GAAP diluted EPS attributable to Amphastar shareholders $ (0.02) $ 0.04 $ 0.98 $ (0.12)Adjusted non-GAAP diluted EPS attributable to Amphastar shareholders* $ 0.07 $ 0.13 $ 0.36 $ 0.21 _________________________________ * Adjusted non-GAAP net income attributable to Amphastar and Adjusted non-GAAP diluted EPS attributable to Amphastar shareholders are non-GAAP financial measures. Please see the discussion in the section entitled “Non-GAAP Financial Measures” and the reconciliation of GAAP to non-GAAP financial measures in Table III of this press release. Fourth Quarter Results Three Months Ended December 31, Change 2019 2018 Dollars % (in thousands) Net revenues: Lidocaine $ 12,282 $ 13,661 $ (1,379) (10)%Phytonadione 12,309 12,942 (633) (5)%Primatene® Mist 9,002 3,574 5,428 152% Naloxon...