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Applied Genetic Technologies posts 4Q loss

ALACHUA, Fla. (AP) _ Applied Genetic Technologies Corp. (AGTC) on Wednesday reported a fiscal fourth-quarter loss of $3.2 million, after reporting a profit in the same period a year earlier.

The Alachua, Florida-based company said it had a loss of 18 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The biotechnology company posted revenue of $8.3 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $13.4 million.

For the year, the company reported net income of $407,000, or 2 cents per share, swinging to a profit in the period. Revenue was reported as $39.5 million.

The company's shares closed at $4.95. A year ago, they were trading at $13.19.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGTC at https://www.zacks.com/ap/AGTC


Keywords: Applied Genetic Technologies, Earnings Report