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Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended September 30, 2020
Reports Net Revenues of $83.4 Million for the Three Months Ended September 30, 2020 RANCHO CUCAMONGA, Calif., Nov. 06, 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 September 30, 2020\nRANCHO CUCAMONGA, Calif., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months ended September 30, 2020.\n Third Quarter Highlights Net revenues of $83.4 million for the third quarterGAAP net income of $3.9 million, or $0.08 per share, for the third quarterAdjusted non-GAAP net income of $7.6 million, or $0.15 per share, for the third quarter Dr. Jack Zhang, Amphastar’s President and Chief Executive Officer, commented: “We once again demonstrated growth due to the continued strength of Primatene Mist® and the re-launch of our epinephrine vial product. Additionally, we are very excited about the significant progress on our intranasal epinephrine product as this product once again illustrates our scientific and technical strengths.” Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 (in thousands, except per share data) Net revenues $83,431 $80,137 $253,925 $238,974 GAAP net income attributable to Amphastar $3,919 $1,310 $7,676 $49,965 Adjusted non-GAAP net income attributable to Amphastar* $7,629 $5,169 $23,622 $14,171 GAAP diluted EPS attributable to Amphastar stockholders $0.08 $0.03 $0.16 $1.00 Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders* $0.15 $0.10 $0.48 $0.28 _________________ * Adjusted non-GAAP net income attributable to Amphastar and Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders 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. Third Quarter Results Three Months Ended September 30, Change 2020 2019 Dollars % (in thousands) Net revenues: Primatene Mist® $12,988 $3,654 $9,334 255 % Enoxaparin 11,647 9,573 2,074 22 % Lidocaine 10,657 11,670 (1,013) (9)% Phytonadione 10,470 10,916 (446) (4)% Naloxone 8,739 10,613 (1,874) (18)% Epinephrine 5,370 3,756 1,614 43 % Other finished pharmaceutical products 21,464 25,547 (4,083) (16)% Total finished pharmaceutical products net revenues $81,335 $75,729 $5,606 7 % API 2,096 4,408 (2,312) (52)% Total net revenues $83,431 $80,137 $3,294 4 % Changes in net revenues...