Sagent Pharmaceuticals (SGNT) Misses Q1 EPS by 16c
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Sagent Pharmaceuticals Reports First Quarter 2016 Financial Results
May 3, 2016 7:30 AM EDTÂ Â Â Â Â Â Company Affirms 2016 Full Year Guidance
Substantial Progress against Long-Term Growth Strategy;
SCHAUMBURG, Ill., May 03, 2016 (GLOBE NEWSWIRE) -- Sagent Pharmaceuticals, Inc. (NASDAQ: SGNT), a leading provider of affordable pharmaceuticals to the hospital market, today announced financial results for the quarter ended March 31, 2016.                                                                                                                                       First Quarter 2016 Highlights
Revenue of $67.8 million;Reported gross profit of $16.8 million, or 25% of net revenue;Completed sale of Sagent (China) Pharmaceuticals (SCP) resulting in $4.3 million net loss, while also reducing cost structure by approximately $10 million per year and strengthening development and supply relationship with long-term strategic partnerAdjusted... More