Shares in Catalent (NYSE:CTLT) jumped more than 20% last week after the company beat expectations on Wall Street with its fiscal 3rd quarter results.
The Somersert, N.J.-based company posted profits of $26 million, or 21¢ per share, on sales of $532.6 million for the 3 months ended March 31, for bottom-line growth of 143% on sales growth of 22% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 38¢, ahead of consensus on The Street, where analysts were looking for sales of $470.9 million.
“We’re pleased with our performance during the 3rd quarter, where we recorded double-digit organic revenue growth on a constant currency across all 3 of our reporting segments, and closed our 2nd strategic acquisition of the fiscal year,” president & CEO John Chiminski said in prepared remarks. “The integrations of both acquisitions closed during the fiscal year, Pharmatek and Accucaps, are progressing according to our expectations and are already creating value for the company and our shareholders.”
CTLT shares were trading at $31.47 apiece today in mid-afternoon activity, up 0.3%.
Catalent said in February that it closed its acquisition of Canada-based Accucaps and its pharmaceutical soft-gel manufacturing capabilities. The company did not disclose the deal’s financial details.
In November last year, Catalent said that it planned to fund the Accucaps buy with a $400 million debt offering.