TUSTIN, Calif. (AP) _ Avid Bioservices Inc. (CDMO) on Tuesday reported fiscal second-quarter profit of $3.5 million.

On a per-share basis, the Tustin, California-based company said it had net income of 6 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 10 cents per share.

The contract manufacturer posted revenue of $26.1 million in the period.

Avid Bioservices expects full-year revenue in the range of $115 million to $117 million.

Avid Bioservices shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.50, more than doubling 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 CDMO at https://www.zacks.com/ap/CDMO

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