Impax Laboratories Inc. (IPXL) reported that its first-quarter GAAP net income decreased to $12.4 million, or $0.18 per share, from $13.9 million, or $0.21 per share in the year ago quarter, primarily due to higher expenses and an inventory adjustment as a result of a change in the strategic direction of certain generic products.
Adjusted net income increased to $35.1 million, or $0.52 per share, from $13.9 million, or $0.21 per share, in the prior year period, primarily attributable to the benefit of the gross profit of $30.0 million earned from United States Zomig sales pursuant to the previously disclosed License Agreement with AstraZeneca UK Limited.
Total revenues increased to $128.6 million, compared to $108.7 million in the prior year period, primarily due to higher sales of generic Adderall XR.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share on revenues of $162.79 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2012, the company expects capital expenditures of approximately $78.0 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.