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Seattle Genetics: 4Q Earnings Snapshot

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BOTHELL, Wash. (AP) _ Seattle Genetics Inc. (SGEN) on Thursday reported fourth-quarter earnings of $167.1 million.

On a per-share basis, the Bothell, Washington-based company said it had profit of 90 cents.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The biotechnology company posted revenue of $601.3 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $583.6 million.

For the year, the company reported net income of $613.7 million, or $3.37 per share, swinging to a profit in the period. Revenue was reported as $2.18 billion.

Seattle Genetics shares have dropped roughly 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $172.02, an increase of 46% 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 SGEN at https://www.zacks.com/ap/SGEN