Avid Bioservices: Fiscal Q4 Earnings Snapshot
TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Wednesday reported fiscal fourth-quarter net income of $115.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Tustin, California-based company said it had profit of $1.65. Earnings, adjusted for one-time gains and costs, were 7 cents per share.
The contract manufacturer posted revenue of $31.2 million in the period.
For the year, the company reported profit of $127.7 million, or $1.84 per share. Revenue was reported as $119.6 million.
Avid Bioservices expects full-year revenue in the range of $140 million to $145 million.
Avid Bioservices shares have fallen 48% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.17, a decrease of 37% in the last 12 months.