Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Q4 2022 Earnings Conference Call February 28, 2023 5:00 PM ET
Company Participants
Bill Peters - Chief Financial Officer, Treasurer, Executive Vice President of Finance, and President of IMS Ltd., and Director
Dan Dischner - VP of Human Resources and Corporate Communication
Tony Marrs - Sr. VP of Regulatory Affairs and Sr. VP of Clinical Operations
Conference Call Participants
Timothy Chiang - Capital One
David Amsellem - Piper Sandler
Operator
Greetings, and welcome to the Amphastar Pharmaceuticals Fourth Quarter Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions].
Please note that certain statements made during this call regarding matters that are not historical facts, including, but not limited to management's outlook or predictions for future periods, are forward-looking statements. These statements are based solely on information that is now available to us. We encourage you to review the section entitled forward-looking statements in the press release issued today and a presentation on the company's website. Also, please refer to our SEC filings, which can be found on our website and the SEC's website for a discussion of numerous factors that may impact our future performance.
We will also discuss certain non-GAAP measures. Important information on our release of these measures and reconciliations to U.S. GAAP may be found in our earnings release. Please note that this conference call is being recorded.
Our speakers today are Mr. Bill Peters, CFO; Mr. Dan Dischner, Senior Vice President of Corporate Communications; and Mr. Tony Marrs, Vice President of Regulatory Affairs and in Clinical Operations.
I will now turn the conference over to your host, Mr. Dan Dischner, Senior Vice President of Corporate Communications. Dan, you may begin.
Dan Dischner
Thank you, Paul. Good afternoon, and thank you all for joining us today. On the call with me will be Bill Peters, CFO and Executive Vice President of Finance; and Tony Marrs, Executive Vice President of Regulatory Affairs and Clinical Operations. Following Bill's financial updates, we will move the call to Q&A where the team will answer your questions.
As announced in our press release and financial results published earlier today, our net revenues for the fiscal year have reached a new high at $499 million, reflecting a significant 14% increase with a corresponding 25% increase in gross profit.
In the fourth quarter alone, our net revenues hit $135 million. Again, we attribute the success for our high margin products, with Primatene MIST, glucagon and epinephrine maintaining a solid market share and having demonstrated impressive growth throughout the year.