SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported a third-quarter loss of $30.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the San Rafael, California-based company said it had a loss of 16 cents. Earnings, adjusted for one-time gains and costs, were 12 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The rare disease biopharmaceutical posted revenue of $776.1 million in the period, which missed Street forecasts. Twelve analysts surveyed by Zacks expected $784.4 million.
BioMarin expects full-year earnings in the range of $3.50 to $3.60 per share, with revenue in the range of $3.15 billion to $3.2 billion.
BioMarin shares have declined 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $52.67, a drop of 24% in the last 12 months.
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