ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Exelixis Inc. (EXEL) on Tuesday reported a fourth-quarter loss of $30.2 million, after reporting a profit in the same period a year earlier.
The Alameda, California-based company said it had a loss of 9 cents per share. Losses, adjusted for stock option expense, came to 3 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The drug developer posted revenue of $423.9 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $416.3 million.
For the year, the company reported profit of $182.3 million, or 56 cents per share. Revenue was reported as $1.61 billion.
Exelixis expects full-year revenue in the range of $1.78 billion to $1.88 billion.
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