Business
ANI Pharmaceuticals Reports Full Year and Fourth Quarter 2019 Results, Provides 2020 Guidance and Remains on Track to Submit Cortrophin® Gel sNDA to FDA in March 2020
BAUDETTE, Minn., Feb. 27, 2020 /PRNewswire/ -- For the full year ended December 31, 2019: Record net revenues of $206.5 million, an increase of 2.5% versus
About this update from Ani Pharmaceuticals, Inc.
[{"type":"text","content":"BAUDETTE, Minn., Feb. 27, 2020 /PRNewswire/ --\nFor the full year ended December 31, 2019:\nRecord net revenues of $206.5 million, an increase of 2.5% versus 2018 GAAP net income of $6.1 million and diluted GAAP earnings per share of $0.50 Adjusted non-GAAP EBITDA of $83.2 million Adjusted non-GAAP diluted earnings per share of $5.06For the fourth quarter 2019:\nNet revenues of $48.0 million versus $57.1 million in 2018 GAAP net loss of $4.8 million and diluted GAAP loss per share of $0.41 Adjusted non-GAAP EBITDA of $17.4 million Adjusted non-GAAP diluted earnings per share of $1.08Guidance for 2020:\nNet revenues of $213 million to $223 million Adjusted non-GAAP EBITDA of $80 million to $86 million Adjusted non-GAAP diluted earnings per share of $4.46 to $4.86ANI Pharmaceuticals, Inc. (\"ANI\") (NASDAQ: ANIP) today reported its financial results for the three and twelve months ended December 31, 2019 and provided its 2020 financial guidance. The Company will host its earnings conference call this morning, February 27, 2020, at 10:30 AM ET. Investors and other interested parties can join the call by dialing (866) 776-8875. The conference ID is 4783883.\nFinancial Summary\n(in thousands, except per share data)\nQ4 2019\nQ4 2018\n 2019(a)\n 2018(a)\nNet revenues\n$ 47,966\n$ 57,122\n$ 206,547\n$ 201,576\nNet (loss)/income\n$ (4,835)\n$ 5,430\n$ 6,094\n$ 15,494\nGAAP (loss)/earnings per diluted share\n$ (0.41)\n$ 0.46\n$ 0.50\n$ 1.30\nAdjusted non-GAAP EBITDA(b)\n$ 17,383\n$ 22,184\n$ 83,158\n$ 84,401\nAdjusted non-GAAP diluted earnings per share(c)\n$ 1.08\n$ 1.32\n$ 5.06\n$ 5.07\n(a) See ANI's Form 10-K filed February 27, 2020 for discussion of year-to-date results.\n(b) See Table 3 for US GAAP reconciliation.\n(c) See Table 4 for US GAAP reconciliation.\nArthur S. Przybyl, President and CEO, stated, \n\"ANI generated record net revenues and non-GAAP gross profit in 2019 while continuing to diversify its commercial product offering and pipeline opportunities. While revenues and non-GAAP gross profit for three of our important generic products were negatively impacted in recent periods, overall our business remains resilient, and we look forward to leveraging important recent launches such as Vancomycin Oral Solution and Bretylium Tosylate Injection as well as the recently acquired Amerigen portfolio in 2020. During 2019, we laun...