ALAMEDA, Calif. (AP) _ BioTime Inc. (BTX) on Thursday reported first-quarter net income of $39.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Alameda, California-based company said it had profit of 30 cents.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The biotechnology company posted revenue of $928,000 in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $660,000.
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