Inotiv, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 10, 2023 at 09:08 pm
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Inotiv, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported revenue was USD 157.47 million compared to USD 172.67 million a year ago. Net income was USD 1.84 million compared to net loss of USD 3.73 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.15 a year ago.
For the nine months, revenue was USD 431.69 million compared to USD 397.19 million a year ago. Net loss was USD 95.48 million compared to USD 92.86 million a year ago. Basic loss per share from continuing operations was USD 3.72 compared to USD 3.88 a year ago. Diluted loss per share from continuing operations was USD 3.72 compared to USD 3.88 a year ago.
Inotiv, Inc. is a contract research company, which is engaged in providing nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries, as well as academia and government clients. Its products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development. It operates through two segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DSA segment supports the discovery, nonclinical development and clinical development needs of researchers and clinicians for primarily small molecule drug candidates, as well as biotherapeutics and biomedical devices. The RMS segment offer access to a range of small and large research models for basic research and drug discovery and development, as well as specialized models for specific diseases and therapeutic areas.
INOTIV, INC. 
