ANI Pharmaceuticals Reports Second Quarter, Year-To-Date, Updates Guidance

For the second quarter 2018:

• Net revenues of $47.3 million, an increase of 6% as compared to the same period in 2017
• GAAP net income of $2.8 million and diluted GAAP earnings per share of $0.23
• Adjusted non-GAAP EBITDA of $19.0 million
• Adjusted non-GAAP diluted earnings per share of $1.13

The following table summarizes 2018 guidance:

($ in millions except EPS figures)

                                                 2018 Guidance Range                   2017             2018
                                                                                             Guidance
                                                                                             --------

                                                      First Half          Second Half        Full Year        Full Year        Growth
                                                      ----------          -----------        ---------        ---------        ------

                                                        Actual                Low              High              Low            High          Actual               Low       High
                                                        ------                ---              ----              ---            ----          ------               ---       ----


    Net Revenues                                                    $93.8             $101.2           $111.2           $195.0        $205.0                $176.8       10%        16%


    Adjusted non-GAAP EBITDA                       40.8(c)                             41.2             47.2             82.0          88.0  74.2(e)                   11%        19%


    Adjusted non-GAAP diluted earnings per share             $    2.45(d)             $2.35            $2.92            $4.80         $5.27          $    3.91(f)      23%        35%
                                                              -----------             -----            -----            -----         -----           -----------      ---         ---

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