Thanks for the reply but it does not explain why my timelapse comes up short.
It seems to me the issue with the duration chosen while creating the composition.
Please attach a screenshot of all settings that you choose while creating a comp and mention the OS and version of After Effects as well.
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When you import an image sequence, the frame rate defaults to 30 fps in AE. You can change the frame rate in the Interpret footage settings. Highlight the clip in the project window. Go File>Interpret>Main. Change the frame rate number from 30 to whatever you want.
Thank you very much Dave. That was the problem. I had noticed it was defaulted to 30 fps but did not know how to change it. Problem is solved. Just had to drop the image sequence back into the composition and voila the time changed to what I was expecting it to be.
Thanks again for the response!