Avid Bioservices: Fiscal Q3 Earnings Snapshot

TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Avid Bioservices Inc. (CDMO) on Wednesday reported a fiscal third-quarter loss of $6 million, after reporting a profit in the same period a year earlier.

The Tustin, California-based company said it had a loss of 9 cents per share. Losses, adjusted for non-recurring costs, were 8 cents per share.

The contract manufacturer posted revenue of $33.8 million in the period.

Avid Bioservices expects full-year revenue in the range of $137 million to $147 million.

Avid Bioservices shares have increased 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.83, a decline of 65% in the last 12 months.

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