TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Tuesday reported a loss of $4.8 million in its fiscal fourth quarter.
The Tustin, California-based company said it had a loss of 11 cents per share.
The contract manufacturer posted revenue of $12.6 million in the period.
For the year, the company reported that its loss widened to $10.5 million, or 27 cents per share. Revenue was reported as $59.7 million.
Avid Bioservices expects full-year revenue in the range of $76 million to $81 million.
Avid Bioservices shares have decreased 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.57, an increase of roughly 8% 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 CDMO at https://www.zacks.com/ap/CDMO
Automated Insights, source Associated Press News