U.S. Markets open in 3 hrs 38 mins

Jazz beats 4Q profit forecasts

DUBLIN (AP) _ Jazz Pharmaceuticals PLC (JAZZ) on Tuesday reported fourth-quarter profit of $116.7 million.

The Dublin-based company said it had profit of $1.91 per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.71 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.

The drugmaker posted revenue of $396.6 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $401.4 million.

For the year, the company reported profit of $396.8 million, or $6.41 per share. Revenue was reported as $1.49 billion.

Jazz expects full-year earnings in the range of $10.70 to $11.30 per share.

Jazz shares have increased 22 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $132.62, an increase of 9 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 JAZZ at https://www.zacks.com/ap/JAZZ


Keywords: Jazz Pharmaceuticals, Earnings Report