Avid Bioservices: Fiscal Q4 Earnings Snapshot
Posted June 29, 2021 1:29 pm.
Last Updated June 29, 2021 1:33 pm.
TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Tuesday reported fiscal fourth-quarter net income of $2 million, after reporting a loss in the same period a year earlier.
The Tustin, California-based company said it had profit of 4 cents per share.
The contract manufacturer posted revenue of $27.6 million in the period.
For the year, the company reported net income of $11.2 million, or 6 cents per share, swinging to a profit in the period. Revenue was reported as $95.9 million.
Avid Bioservices expects full-year revenue in the range of $115 million to $117 million.
Avid Bioservices shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.07, nearly quadrupling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDMO at https://www.zacks.com/ap/CDMO
The Associated Press
