Albany Molecular Research (AMRI) has reported a net loss of $2.14m, or $0.07 per share, for the third quarter ended 30 September 2012 compared to a net loss of $5.85m, or $0.19 per share, for the third quarter ended 30 September 2011.
Total revenue for third quarter of 2012 was $55.77m, an increase of 11%, compared to $50.23m for the third quarter of 2011.
The company reported a net loss of $5.69m, or $0.19 per share, for the nine months ended 30 September 2012 compared to a net loss of $7.89m, or $0.26 per share, for the nine months ended 30 September 2011.
Total revenue of $159.47m was reported for the first nine months of 2012 compared to $161.05m for the first nine months of 2011.
AMRI chairman, president and CEO Thomas D'Ambra said the quarter indicates sequential improvement in revenue every year for contract services business motivated by constant strength in large scale manufacturing operations.
"Although contract service operating margins in the quarter were impacted by the underlying mix of services within each segment, this was offset by the favorable impact of royalties received on product sales from the commercial launch of an FDA approved generic product by one of our customers," D'Ambra added.
