BAUDETTE, Minn. (AP) — BAUDETTE, Minn. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Friday reported first-quarter profit of $29.5 million.

The Baudette, Minnesota-based company said it had net income of $1.28 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $2.05 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The drugmaker posted revenue of $237.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $205.4 million.

ANI expects full-year earnings in the range of $9.19 to $9.69 per share, with revenue in the range of $1.08 billion to $1.14 billion.

ANI shares have climbed slightly more than 6% since the beginning of the year. The stock has climbed 18% 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 ANIP at https://www.zacks.com/ap/ANIP