Mixed results for AMRI

AMRI reported mixed results from its contract manufacturing businesses in Q3 2010. The small scale manufacturing contract revenue decreased 6% to $9.1m, while large scale manufacturing contract revenue increased 20% to $21.9m. Thomas D'Ambra, AMRI's chairman, president and CEO said “results this quarter reflect the continued shift in customer demand for services in Asia and Europe, as evidenced by the on-going growth of our international locations". He also said it would take longer than expected to realise the synergies from AMRI's two recent acquisitions in Wales, UK and Burlington, MA. have shown signs that it will take a few months longer to demonstrate the synergies to our business than we first had anticipated. He added that AMRI was using internal and external resources to address concerns raised in an FDA Warning Letter for its Burlington sterile fill and finish business and hopes to have resolved the matter in H1 2011.
AMRI