Business & Finance
Impax Laboratories reports financial results for Q1 2017
11 May 2017 -

Impax Laboratories, Inc (NASDAQ: IPXL), a specialty pharmaceutical company, has announced its financial results for the first quarter of 2017, it was reported yesterday.

The company reported total revenues in the first quarter of 2017 at USD184.4m, down 18.2% compared to the year-ago period.

The firm posted GAAP net loss and GAAP net loss per diluted share at USD98.4m and USD1.37 respectively in the first quarter 2017, compared to a loss of USD10.4m and USD0.15 respectively, in the prior year period. The first quarter 2017 net loss was mainly due to a USD45.4 million in intangible asset impairment charges, for which there were no comparable charges during the prior year period, as well as a USD30.9 million income tax provision on the current period net loss.

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