Cambrex Reaffirms 2017 Outlook – Nasdaq.com

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(RTTNews.com) – Cambrex Corp. ( CBM ), a producer of small molecule innovator and generic Active Pharmaceutical Ingredients, stated that it continues to anticipate full yr 2017 Net Revenue, excluding the impression of overseas forex, to extend between 7% and 11% in comparison with 2016, Adjusted EBITDA to be between $171 and $177 million, an 11% to 15% enhance in comparison with 2016 and Adjusted revenue from persevering with operations to be between $three.00 – $three.12 per share. Analysts polled by Thomson Reuters anticipate the corporate to report earnings of $three.08 per share for fiscal yr 2017. Analysts’ estimates usually exclude particular objects.

The Company now expects 2017 free money stream to be between $60 and $70 million, a rise of $5 million from the mid-point and capital expenditures to be between $65 and $70 million, a discount of $5 million from the mid-point.

The Company continued to execute on its strategic progress plan, investing in new manufacturing capability and badytical laboratory house at its services in Charles City, High Point, Karlskoga, and Milan.

GAAP EPS from persevering with operations elevated 24% to $zero.52 from $zero.42 in the identical quarter final yr. Adjusted Diluted EPS elevated 20% to $zero.55 in comparison with $zero.46 in the identical quarter final yr.

Net income was $112.6 million, a rise of $13.2 million, or 13%, in comparison with the third quarter of 2016. Excluding a 1% favorable impression of overseas change in comparison with the third quarter of 2016, internet income elevated 12%. The enhance primarily displays greater volumes partially offset by decrease pricing. The enhance in volumes was pushed primarily by progress in all product clbades, in addition to the addition of Cambrex High Point.

Analysts polled by Thomson Reuters anticipated the corporate to report earnings of $zero.48 per share and revenues of $107.37 million for the third-qarter. Analysts’ estimates usually exclude particular objects.

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