ALBANY, N.Y., Feb. 17, 2016 /PRNewswire/ -- AMRI (NASDAQ: AMRI) today reported financial and operating results for the fourth quarter and full year ended December 31, 2015 and provided an outlook for 2016.
- Fourth quarter total revenue of $126.4 million, up 46% from 2014; Full year total revenue of $402.4 million, up 45%
- Fourth quarter adjusted contract margins expand to 30%; Full year adjusted contract margins of 26%
- Fourth quarter adjusted EBITDA of $26.7 million; Full year adjusted EBITDA of $75.2 million
- Fourth quarter adjusted diluted EPS of $0.40; Full year adjusted diluted EPS of $0.96
- 2016 Revenue expected to be between $465 to $490 million
2016 Adjusted EPS expected to be between $1.00 and $1.10per diluted share
“Adjusted contract margins” and “Adjusted diluted EPS” are Non-GAAP measurements. See discussion under the heading “Non-GAAP Adjustment Items” in this release.
“Strong performances in each of our businesses led us to finish 2015 with total revenue increasing 45% and adjusted contract margins expanding to 26% for the year,” said William S. Marth, AMRI’s president and chief executive officer. “Our strong performance demonstrates the effectiveness of our strategy to grow both organically and inorganically, create sustainable revenue and EBITDA, and provide valuable and differentiating services and products for our customers.
2015 was a transformative year for AMRI. We significantly expanded our capabilities in API and drug product and added valuable analytical and testing expertise that our customers are looking for in an increasingly complex regulatory and legal environment. In addition, we expanded our discovery service offerings and continue to advance development programs that will provide us new revenue opportunities.
We have built a sustainable platform for our business and as we enter 2016, we have more visibility on our business than we have ever had in our past. Our priority will be to maximize the value of our acquisitions, continue to drive organic and inorganic growth and deliver the quality, reliable and innovative services and products our customers demand.”
Fourth Quarter 2015 Results
Total revenue for the fourth quarter of 2015 was $126.4 million, an increase of 46% compared to total revenue of $86.6 million reported in the fourth quarter of 2014.
Total contract revenue for the fourth quarter of 2015 was $123.0 million, an increase of 52% compared to contract revenue of $80.7 million reported in the fourth quarter of 2014.
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