SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Monday reported a fourth-quarter loss of $46.6 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 24 cents. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The rare disease biopharmaceutical posted revenue of $874.6 million in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $829.7 million.
For the year, the company reported profit of $348.9 million, or $1.80 per share. Revenue was reported as $3.22 billion.
BioMarin shares have risen nearly 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $62.92, a decline of nearly 8% in the last 12 months.
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