Financial Reports: AMRI 1Q11
AMRI has posted its financial results for the first quarter ended March 31, 2011.
Albany Molecular Research Inc. announced its quarterly results on Wednesday. Total revenue for the first quarter of 2011 was $56.9 million, an increase of 15% compared to total revenue in the first quarter of 2010.
Contract revenue in the quarter was $42.9 million, up 10%.
Discovery Services accounted for $10.6 million, down 15%, Development/Small Scale Manufacturing was $10.5 million, up 24%, and Large Scale Manufacturing brought in $21.8 million, up 22%. Recurring royalties in the quarter were up 34% to $14 million. Loss in the quarter includes $400,000 in costs related to the ongoing resolution of the FDA warning letter pertaining to the Burlington, MA parenteral dosage
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