BAUDETTE, Minn. (AP) _ ANI Pharmaceuticals Inc. (ANIP) on Friday reported first-quarter net income of $86,000, after reporting a loss in the same period a year earlier.

The Baudette, Minnesota-based company said it had net income of 1 cent per share. Earnings, adjusted for one-time gains and costs, were $1.04 per share.

The drugmaker posted revenue of $54.5 million in the period.

ANI shares have risen 21% since the beginning of the year. The stock has fallen slightly more than 5% in the last 12 months.

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