Catalent Rises On Better-than-expected Q3 Revenue

(RTTNews) - Shares of Catalent, Inc. (CTLT) are rising more than 12% Monday morning after reporting better-than-expected revenue in the third quarter.

Quarterly revenue declined 19% year-on-year to $1.04 billion, but beat the average estimate of analysts polled by Thomson-Reuters of $952.66 million.

For the third quarter, the company reported a net loss of $227 million or $1.26 per share, compared with earnings of $141 million or $0.78 per share a year ago.

The net loss includes a goodwill impairment of $210 million, which includes the effect of a $42 million deferred tax adjustment, Catalent said.

Excluding one-time items, loss was $17 million or $0.09 per share. Analysts were expecting for a loss of $0.03 per share.

CTLT is at $43.51 currently. It has traded in the range of $31.45 - $115.33 in the last 52 weeks.