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ALAMEDA, Calif. (AP) _ Exelixis Inc. (EXEL) on Wednesday reported fourth-quarter net income of $28.4 million.
The Alameda, California-based company said it had profit of 9 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The drug developer posted revenue of $270.1 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $271.3 million.
For the year, the company reported profit of $111.8 million, or 35 cents per share. Revenue was reported as $987.5 million.
Exelixis expects full-year revenue in the range of $1.15 billion to $1.25 billion.
Exelixis shares have risen 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.03, a rise of 20% in the last 12 months.