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Cambrex Revises Earnings Outlook - Quick Facts

Cambrex Corp. (CBM) announced, for the full year 2018, the company now expects adjusted income from continuing operations per share in a range of $2.91 - $3.14, revised from previous guidance range of $2.80 - $3.03. The company reaffirmed its full year adjusted net revenue growth and adjusted EBITDA guidance.

Cambrex noted that its expectations do not reflect the impact of the acquisition of Halo Pharma on 2018 results. The company expects to issue revised guidance in its third quarter call once the acquisition has closed.

For the second-quarter, adjusted income from continuing operations was $24.7 million or $0.74 per share, compared to $25.4 million or $0.76 per share in the same quarter last year. Net revenue was $152.0 million, an increase of $17.5 million, or 13%, compared to the second quarter of 2017. Excluding a 2% favorable impact of foreign exchange compared to the second quarter of 2017, net revenue increased 11%.

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