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Foundation Medicine reports 4Q loss

CAMBRIDGE, Mass. (AP) _ Foundation Medicine Inc. (FMI) on Wednesday reported a loss of $35.6 million in its fourth quarter.

On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of $1.02.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of $1.02 per share.

The diagnostic cancer analyses company posted revenue of $28.8 million in the period.

For the year, the company reported that its loss widened to $113.2 million, or $3.25 per share. Revenue was reported as $116.9 million.

Foundation Medicine expects full-year revenue in the range of $135 million to $145 million.

Foundation Medicine shares have risen 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.80, a rise of 53 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 FMI at https://www.zacks.com/ap/FMI


Keywords: Foundation Medicine, Earnings Report