Kendle International Up 7.3% After Hours (KNDL)

Kendle International Inc. KNDL released financial results after the market closed on Monday. Kendle International Inc reported that its 3rd quarter net income fell to $1.5 million, or 10 cents per share, down from $8.8 million, or 59 cents per share, a year earlier. The company's net revenue fell to $83.2 million, down from $104.6 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 4 cents per share, on revenue of $81.47 million. Chairman and CEO Candace Kendle said, "For the second consecutive quarter, we have experienced a sequential improvement in net sales, due in part to the investments we have made this year in our worldwide sales organization and the continued confidence our customers have in Kendle as their global drug development partner. We continue to expand our relationships with our existing customers while leveraging these experiences to partner with new customers, all of which should serve to drive increased sales and improved top-line performance." Kendle International Inc. (KNDL) closed Monday trading at $9.51 per share, then climbed 7.3% to $10.20 during after hours trading. Analysts covering the company's stock give it a consensus price target of $12.67 per share. Read more from Benzinga's Company news.