Categories Earnings, Health Care

Avid Bioservices (CDMO) Q3 2020 Earnings Snapshot

— Avid Bioservices (NASDAQ: CDMO) reported a loss of $0.## per share for its third quarter of 2020 vs. expected loss of $0.04 per share.

— Revenue was $13.6 million vs. $15.42 million expected.

Earnings Update by AlphaStreet

— As of January 31, 2020, revenue backlog was approximately $58 million.

— For fiscal 2020, the company reduced its revenue outlook to a range of $55 million to $59 million from the previously issued guidance of $64 million to $67 million.

— Avid Bioservices stated that the temporary production interruption resulted in lower revenue and profits for the third quarter. This interruption is also expected to impact revenues and profits for the fourth quarter of fiscal 2020.

— CDMO shares plummeted more than 15% during the after-hours. 

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Here’s a look at Dollar Tree’s (DLTR) expectations for the remainder of the year

Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings

Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop

Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported

Is Zoom Video Communications (ZM) a good investment after Q3 earnings?

Zoom Video Communications (NASDAQ: ZM) expanded its customer base at an accelerated pace during the COVID crisis and soon became the preferred video conferencing platform for businesses and millions of

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top