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Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended June 30, 2021
Reports Net Revenues of $101.7 Million for the Three Months Ended June 30, 2021RANCHO CUCAMONGA, CA / ACCESSWIRE / August 9, 2021 / Amphastar Pharmaceuticals,
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $101.7 Million for the Three Months Ended June 30, 2021RANCHO CUCAMONGA, CA / ACCESSWIRE / August 9, 2021 / Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) (\"Amphastar\" or the \"Company\") today reported results for the three months ended June 30, 2021.Second Quarter HighlightsNet revenues of $101.7 million for the second quarterGAAP net income of $7.8 million, or $0.16 per share, for the second quarterAdjusted non-GAAP net income of $10.6 million, or $0.21 per share, for the second quarterDr. Jack Zhang, Amphastar's President and Chief Executive Officer, commented: \"Continued strong sales of glucagon, Primatene Mist® and our epinephrine products led to another strong quarter of growth. We believe that these products will continue to drive growth as we continue to develop and realize approvals from our pipeline.\" Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands, except per share data) Net revenues $101,663 $85,806 $204,683 $170,494 GAAP net income (loss) attributable to Amphastar $7,767 $(192) $12,808 $3,757 Adjusted non-GAAP net income attributable to Amphastar* $10,615 $7,610 $24,168 $15,993 GAAP diluted EPS attributable to Amphastar stockholders $0.16 $(0.00) $0.26 $0.08 Adjusted non-GAAP diluted EPS attributable to Amphastar stockholders* $0.21 $0.16 $0.49 $0.33 * 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.Second Quarter Results Three Months Ended June 30, Change 2021 2020 Dollars % (in thousands) Net revenues: Primatene Mist® $16,680 $12,468 $4,212 34%Glucagon 12,131 - 12,131 N/A Lidocaine 11,594 7,608 3,986 52%Phytonadione 10,421 10,689 (268) (3)%Enoxaparin 9,328 10,218 (890) (9)%Epinephrine 9,192 6,957 2,235 32%Naloxone 6,625 8,723 (2,098) (24)%Other finished pharmaceutical products 18,751 24,272 (5,521) (23)%Total finished pharmaceutical products net revenues $94,722 $80,935 $13,787 17%API 6,941 4,871 2,070 42%Total net revenues $101,663 $85,806 $15,857 18%Changes in net revenues were primarily driven by:Primatene Mist ® increased volumes resulting from:The continue...