Impax Laboratories Inc. (NASDAQ:IPXL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Impax Laboratories Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 16.67% to $0.3 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Decreased 11.01% to $141.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Impax Laboratories Inc. reported adjusted EPS income of $0.3 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $127.03 million.
Quoting Management: “While our adjusted full year 2012 financial results improved over last year, it was still a challenging year for Impax. We faced a few obstacles on two of our key objectives for 2012 – successfully resolving the warning letter at our Hayward facility and obtaining approval of our first internally developed branded product candidate RYTARYTM,” said Larry Hsu, Ph.D., president and CEO, Impax Laboratories, Inc. “The resolution of the quality issues in Hayward continues to be a top priority throughout the company.”
Key Stats (on next page)…