APP Pharmaceuticals 1Q profit falls on interest expense

The company earned $9.2 million, or 6 cents per share, compared with profit of $11.1 million, or 7 cents per share, during the same period a year prior. Revenue rose 6 percent to $148.1 million from $140.3 million.

APP said net interest expense surged to $15.7 million from $3.6 million. Excluding the expense and charges, the company said it earned 14 cents per share.

Sales of critical care products rose 8 percent to $91.2 million while sales of anti-infective products rose 8 percent to $43 million. Cancer treatment sales fell 2 percent to $11 million while contract manufacturing revenue fell 35 percent to $2.9 million.

Shares of APP Pharmaceuticals fell 93 cents, or 7 percent, to $12.35 in morning trading. The stock has ranged from $9.56 to $27.75 over the past year.