SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported fourth-quarter net income of $20.4 million, after reporting a loss in the same period a year earlier.
The San Rafael, California-based company said it had net income of 11 cents per share. Earnings, adjusted for one-time gains and costs, came to 49 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The rare disease biopharmaceutical posted revenue of $646.2 million in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $636.7 million.
For the year, the company reported profit of $167.6 million, or 87 cents per share. Revenue was reported as $2.42 billion.
BioMarin expects full-year earnings in the range of $2.60 to $2.80 per share, with revenue in the range of $2.7 billion to $2.8 billion.
BioMarin shares have declined almost 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.97, a fall of 13% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRN at https://www.zacks.com/ap/BMRN