Impax Laboratories Inc.(IPXL) Wednesday reported first-quarter net income of $105.4 million or $1.55 per share, down from $12.3 million or $0.18 per share in the comparable quarter last year. The company recorded other income of $149.4 million for the latest quarter as opossed to an expense of $48 million in the year-ago quarter
Adjusted net income for the quarter was $25.3 million or $0.37 per share for the quarter, compared to $35.8 million or $0.53 per share in the year-ago period.
Total revenues for the quarter rose 15 percent to $148.48 million from $128.56 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report $0.21 per share on revenues of $128.85 million for the quarter. Analysts' estimates typically exclude special items.
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