×

Diplomat Pharmaceuticals posts 3Q profit

FLINT, Mich. (AP) _ Diplomat Pharmacy Inc. (DPLO) on Monday reported third-quarter profit of $1 million.

On a per-share basis, the Flint, Michigan-based company said it had net income of 1 cent. Earnings, adjusted for amortization costs and non-recurring costs, came to 25 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The independent specialty pharmacy posted revenue of $1.12 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.14 billion.

Diplomat Pharmaceuticals expects full-year earnings in the range of 82 cents to 87 cents per share, with revenue in the range of $4.4 billion to $4.6 billion.

Diplomat Pharmaceuticals shares have risen 66 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.87, a rise of 67 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DPLO at https://www.zacks.com/ap/DPLO