Avantor, Inc. (AVTR), a biotechnology, chemicals, and pharmaceutical company, on Wednesday reported lower net income in the fourth quarter compared with the previous year.
For the fourth quarter, net income declined to $52.4 million from $500.4 million in the previous year.
Earnings per share were $0.08 versus $0.73 last year.
Adjusted net income decreased to $146 million from $184 million in the prior year.
Adjusted earnings per share were $0.22 versus $0.27 last year.
On average, 15 analysts had expected the company to report $0.22 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA slid to $252.2 million from $307.7 million in the same period last year.
Operating income decreased to $126.4 million from $638.1 million in the prior year.
Adjusted operating income decreased to $225.4 million from $279.4 million in the year ago period.
Net sales declined 1 percent to $1.66 billion from $1.69 billion in the previous year.
In the pre-market trading, Avantor is 8.65% lesser at $10.19 on the New York Stock Exchange.
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