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Vanda: 1Q Earnings Snapshot

WASHINGTON (AP) _ Vanda Pharmaceuticals Inc. (VNDA) on Wednesday reported first-quarter net income of $486,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Washington-based company said it had net income of 1 cent.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 1 cent per share.

The biopharmaceutical company posted revenue of $58 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $57.5 million.

Vanda expects full-year revenue in the range of $240 million to $260 million.

Vanda shares have decreased 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.69, a drop of 29% 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 VNDA at https://www.zacks.com/ap/VNDA