NEWARK, Calif. (AP) _ Assertio Therapeutics, Inc. (ASRT) on Thursday reported third-quarter net income of $48.3 million, after reporting a loss in the same period a year earlier.
The Newark, California-based company said it had net income of 65 cents per share. Earnings, adjusted for non-recurring gains, were 42 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The drugmaker posted revenue of $77.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $68.7 million.
Assertio shares have declined 37 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.07, a drop of 11 percent 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 ASRT at https://www.zacks.com/ap/ASRT