AMRI's ($AMRI) contract development and manufacturing business soared by 50% in the fourth quarter, and the New York outsourcer sees no sign of slowdown, projecting more growth in 2013.
Leading the strong Q4 was AMRI's swelling large-scale manufacturing unit, which grew to $38.1 million, a 69% jump over the same period in 2011. Meanwhile, small-scale manufacturing leapt 41% to $10.4 million, and discovery services increased 12% to $10.6 million. All that growth made for net income of $1.9 million on the quarter, compared to a loss of $24.4 million in Q4 2011.
Now, AMRI is projecting another 12% revenue jump in 2013, led by an increased focus on the burgeoning large-scale manufacturing unit and more partnerships involving AMRI's SmartSourcing platform, CEO Thomas D'Ambra said.
"As we enter 2013 and look beyond as well, we are optimistic about our ability to lead the industry to new business models and relationships, and we are encouraged by the decisions we made throughout 2012 to set us on the right path to continued profitability," D'Ambra said in a statement.
Just last week, AMRI kicked off a collaboration with Codexis ($CDXS) to pool their resources on API manufacturing. Before that, the CDMO locked down a contract extension with GE Healthcare ($GE), its largest client, to supply the giant's diagnostic imaging operation; AMRI also recently signed a discovery pact with Knopp Biosciences and a contract extension with Shire ($SHPG).
- read AMRI's full results