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Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended June 30, 2020
Reports Net Revenues of $85.8 Million for the Three Months Ended June 30, 2020 RANCHO CUCAMONGA, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Amphastar
About this update from Amphastar Pharmaceuticals, Inc.
[{"type":"text","content":"Reports Net Revenues of $85.8 Million for the Three Months Ended June 30, 2020\nRANCHO CUCAMONGA, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) (“Amphastar” or the “Company”) today reported results for the three months ended June 30, 2020.\n Second Quarter Highlights Net revenues of $85.8 million for the second quarterGAAP net loss of $0.2 million, or $0.00 per share, for the second quarterAdjusted non-GAAP net income of $7.6 million, or $0.16 per share, for the second quarter Dr. Jack Zhang, Amphastar’s President and Chief Executive Officer, commented: “We are pleased with Amphastar’s second quarter and the first half of the year so far. Primatene® Mist has been a strong performer for the Company, while our epinephrine multi-dose vial launch continues to gain momentum. Despite the challenges presented by the COVID-19 pandemic, we remain confident, heading into our catalyst-rich second half of the year.” Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (in thousands, except per share data) Net revenues $ 85,806 $ 79,047 $ 170,494 $ 158,837 GAAP net (loss) income attributable to Amphastar $ (192) $ 47,787 $ 3,757 $ 48,655 Adjusted non-GAAP net income attributable to Amphastar* $ 7,610 $ 4,117 $ 15,993 $ 9,002 GAAP diluted EPS attributable to Amphastar shareholders $ (0.00) $ 0.96 $ 0.08 $ 0.97 Adjusted non-GAAP diluted EPS attributable to Amphastar shareholders* $ 0.16 $ 0.08 $ 0.33 $ 0.18 _______________________________* 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. Second Quarter Results Three Months Ended June 30, Change 2020 2019 Dollars % (in thousands) Net revenues: Primatene® Mist $ 12,468 $ 2,512 $ 9,956 396 %Phytonadione 10,689 12,441 (1,752) (14)%Enoxaparin 10,218 9,838 380 4 %Lidocaine 7,608 10,082 (2,474) (25)%Naloxone 8,723 7,833 890 11 %Epinephrine 6,957 3,139 3,818 122 %Other finished pharmaceutical products 24,272 27,890 (3,618) (13)%Total finished pharmaceutical products net revenues $ 80,935 $ 73,735 $ 7,200 10 %API 4,871 5,312 (441) (8)%Total net revenues $...