SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Thursday reported first-quarter net income of $185.7 million.
The San Rafael, California-based company said it had net income of 95 cents per share. Earnings, adjusted for one-time gains and costs, were $1.13 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The rare disease biopharmaceutical posted revenue of $745.1 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $737 million.
BioMarin expects full-year earnings in the range of $4.20 to $4.40 per share, with revenue in the range of $3.1 billion to $3.2 billion.
BioMarin shares have dropped nearly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $62.70, a fall of 25% in the last 12 months.
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