SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported a loss of $249,000 in its fourth quarter.
On a per-share basis, the San Rafael, California-based company said it had a loss of less than 1 cent. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The rare disease biopharmaceutical posted revenue of $537.5 million in the period, topping Street forecasts. Eleven analysts surveyed by Zacks expected $533.9 million.
For the year, the company reported net income of $141.6 million, or 75 cents per share, swinging to a profit in the period. Revenue was reported as $2.1 billion.
BioMarin expects full-year earnings in the range of $1.80 to $2.05 per share, with revenue in the range of $2.38 billion to $2.5 billion.
BioMarin shares have decreased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $103.24, an increase of 32% in the last 12 months.
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