Shares of Catalent, Inc. (CTLT) are rising more than 9% Wednesday morning after reporting preliminary first-quarter results above the Street view.
The company reported a loss of $715 million, or $3.94 per share for the first quarter, compared with breakeven earnings a year ago.
Excluding one-time items, Catalent posted loss of $19 million or $0.10 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.14 loss per share.
Revenue for the quarter declined 4% year on year $982 million, but was above consensus estimate of $939.14 million.
CTLT, currently at $38.90, has traded in the range of $31.45 - $74.49 in the last 1 year.
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