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People & Business :: Earnings/Finance
Cambrex reports rise in profits and sales
9:11 AM MDT | May 3, 2013 | Deepti Ramesh
Cambrex (East Rutherford, NJ) reports a 58.6% increase in net profits for the first quarter, ended 31 March, compared with the year-ago period, to $11.16 million. First-quarter sales increased 5.7%, to $74.58 million, including the favorable impact of foreign exchange of 1%, and this rise was primarily due to higher custom development sales related to clinical phase projects and higher sales of certain active pharmaceutical ingredients for branded commercial products, Cambrex says. Capital expenditure (capex) for the first quarter of 2013 was $12.7 million...
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