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Pacific Biosciences: 4Q Earnings Snapshot

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MENLO PARK, Calif. (AP) _ Pacific Biosciences of California Inc. (PACB) on Wednesday reported fourth-quarter net income of $74.9 million, after reporting a loss in the same period a year earlier.

The Menlo Park, California-based company said it had profit of 37 cents per share. Losses, adjusted for non-recurring gains, were 1 cent per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The maker of genetic analysis technology posted revenue of $27.1 million in the period.

For the year, the company reported net income of $29.4 million, or 17 cents per share, swinging to a profit in the period. Revenue was reported as $78.9 million.

Pacific Biosciences shares have climbed 77% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.90, climbing tenfold 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 PACB at https://www.zacks.com/ap/PACB