Aurinia: Q2 Earnings Snapshot

EDMONTON, Alberta (AP) — EDMONTON, Alberta (AP) — Aurinia Pharmaceuticals Inc. (AUPH) on Thursday reported second-quarter net income of $722,000, after reporting a loss in the same period a year earlier.

The Edmonton, Alberta-based company said it had profit of 1 cent per share. Earnings, adjusted for restructuring costs, were 2 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The biotechnology company posted revenue of $57.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $54.9 million.

Aurinia shares have dropped 34% since the beginning of the year. The stock has declined 49% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUPH at https://www.zacks.com/ap/AUPH