ALAMEDA, Calif. (AP) _ Exelixis Inc. (EXEL) on Tuesday reported fourth-quarter net income of $360.1 million.
On a per-share basis, the Alameda, California-based company said it had profit of $1.15. Earnings, adjusted for pretax gains, came to 37 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The drug developer posted revenue of $228.6 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $195.7 million.
For the year, the company reported profit of $690.1 million, or $2.21 per share. Revenue was reported as $853.8 million.
Exelixis shares have risen 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.68, a decline of 25 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 EXEL at https://www.zacks.com/ap/EXEL