DUBLIN (AP) _ Avadel Pharmaceuticals PLC (AVDL) on Monday reported second-quarter net income of $30.9 million, after reporting a loss in the same period a year earlier.
The Dublin-based company said it had profit of 49 cents per share. Losses, adjusted for non-recurring gains, came to 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The specialty pharmaceutical company posted revenue of $10.1 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $8.1 million.
Avadel shares have risen 11% since the beginning of the year. The stock has more than tripled 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 AVDL at https://www.zacks.com/ap/AVDL
Automated Insights, source Associated Press News