Cambrex Q3 Profit Rises, Lifts 2014 Adj. Earnings Outlook - Quick Facts

(RTTNews) - Cambrex Corp. (CBM) reported third-quarter net income of $8.77 million or $0.28 per share, up from $3.57 million or $0.12 per share in the year-ago period.

Adjusted income from continuing operations was $8.85 million or $0.28 per share, compared to $7.12 million or $0.23 per share in the same period last year.

Net sales for the quarter grew to $80.64 million from $77.45 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter on revenues of $94.25 million.

Looking ahead to fiscal 2014, Cambrex continues to expect full year 2014 sales, excluding the impact of foreign currency, to grow between 13 percent and 16 percent from 2013, and full year EBITDA between $74 and $78 million.

The company now forecasts full-year adjusted income from continuing operations between $1.11 and $1.19 per share, a $0.04 increase at both the low and high ends of the range, due to lower estimates of depreciation and interest expense for 2014.

Street expects the company to report earnings of $1.08 per share for the year on revenues of $373.10 million.