Avantor Q4 Earnings Up, Despite Lower Sales; Stock Slides In Pre-market

(RTTNews) - Avantor, Inc. (AVTR), a biotechnology, chemicals, and pharmaceuticals company, Friday announced a surge in net income for the fourth quarter, from the prior year.

Shares of Avantor are decreasing by 6% in the pre-market trading.

For the fourth quarter, net income increased to $500 million from $98.5 million in the previous year.

The earnings per share also increased to $0.73 versus $0.15 last year.

The adjusted net income also spiked to $183.9 million from $166.7 million the previous year.

The adjusted earnings per share were $0.27.

Net sales for the fourth quarter declined to $1.68 billion, from $1.722 billion a year ago quarter.

In the pre-market trading, Avantor is 5.44% less at $20.52 on the New York Stock Exchange.