FLINT, Mich. (AP) — Diplomat Pharmacy Inc. (DPLO) on Tuesday reported a third-quarter loss of $177.3 million, after reporting a profit in the same period a year earlier.
The Flint, Michigan-based company said it had a loss of $2.35 per share. Losses, adjusted for asset impairment costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The independent specialty pharmacy posted revenue of $1.3 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.16 billion.
Diplomat Pharmaceuticals expects a full-year loss of $4.91 to $4.81 per share, with revenue in the range of $4.9 billion to $5.1 billion.
Diplomat Pharmaceuticals shares have decreased 54% since the beginning of the year. The stock has declined 61% in the last 12 months.