CHANDLER, Ariz. (AP) _ Insys Therapeutics Inc. (INSY) on Thursday reported first-quarter profit of $8 million.

The Chandler, Arizona-based company said it had profit of 21 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The specialty pharmaceutical company posted revenue of $70.8 million in the period.

Insys Therapeutics shares have climbed 32 percent since the beginning of the year. The stock has increased 38 percent in the last 12 months.