DUBLIN (AP) — DUBLIN (AP) — Alkermes PLC (ALKS) on Thursday reported a fourth-quarter loss of $28.3 million, after reporting a profit in the same period a year earlier.
The Dublin-based company said it had a loss of 17 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 14 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The drugmaker posted revenue of $304.7 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $286.8 million.
For the year, the company reported that its loss widened to $158.3 million, or 97 cents per share. Revenue was reported as $1.11 billion.
Alkermes expects full-year results to range from a loss of $1.20 per share to earnings of 23 cents per share, with revenue in the range of $1.13 billion to $1.25 billion.
Alkermes shares have increased slightly more than 3% since the beginning of the year. The stock has risen 16% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ALKS">Zacks stock report on ALKS at https://www.zacks.com/ap/ALKS