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Cambrex reports sales jump on branded APIs

1:45 PM MDT | November 1, 2013 | Lindsay Frost

Cambrex today reported its third quarter results—with net income falling 8.6% year-over-year (YOY), to $17 million. The company reported income from continuing operations of 20 cts/share compared with 7 cts/share in the year-ago quarter. This is slightly below analyst estimates of 21 cts/share, according to Thomson Reuters (New York). Sales of $78 million were up 30% YOY and include a favorable foreign exchange benefit. Sales increased primarily due to higher sales of a large phase-3 product and certain branded active pharmaceutical ingredients (APIs)...

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