SAN RAFAEL, Calif. (AP) _ BioMarin Pharmaceutical Inc. (BMRN) on Wednesday reported fourth-quarter net income of $15 million, after reporting a loss in the same period a year earlier.
The San Rafael, California-based company said it had net income of 8 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The rare disease biopharmaceutical posted revenue of $454.4 million in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $461.9 million.
For the year, the company reported that its loss narrowed to $23.8 million, or 13 cents per share. Revenue was reported as $1.7 billion.
BioMarin expects full-year revenue in the range of $1.95 billion to $2.05 billion.
BioMarin shares have increased roughly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $91.22, a decline of 1% in the last 12 months.