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Inogen beats Street 4Q forecasts

GOLETA, Calif. (AP) _ Inogen Inc. (INGN) on Tuesday reported fourth-quarter net income of $5.3 million.

On a per-share basis, the Goleta, California-based company said it had net income of 25 cents.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The produces oxygen concentrators for patients suffering from chronic respiratory conditions posted revenue of $50.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $45.5 million.

For the year, the company reported profit of $20.5 million, or 97 cents per share. Revenue was reported as $202.8 million.

Inogen expects full-year revenue in the range of $233 million to $239 million.

Inogen shares have risen 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $68.62, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INGN at https://www.zacks.com/ap/INGN

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Keywords: Inogen, Earnings Report