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BioMarin reports 4Q loss

SAN RAFAEL, Calif. (AP) _ BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported a fourth-quarter loss of $90.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the San Rafael, California-based company said it had a loss of 53 cents. Losses, adjusted for one-time gains and costs, came to 16 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share.

The rare disease biopharmaceutical posted revenue of $300.1 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $297.1 million.

For the year, the company reported that its loss widened to $630.2 million, or $3.81 per share. Revenue was reported as $1.12 billion.

BioMarin expects full-year revenue in the range of $1.25 billion to $1.3 billion.

BioMarin shares have increased nearly 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.29, a rise of 18 percent in the last 12 months.


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


Keywords: BioMarin Pharmaceutical, Earnings Report