BioMarin: Q4 Earnings Snapshot

Audio By Carbonatix

SAN RAFAEL, Calif. (AP) — SAN RAFAEL, Calif. (AP) — BioMarin Pharmaceutical Inc. (BMRN) on Wednesday reported fourth-quarter profit of $124.9 million.

The San Rafael, California-based company said it had net income of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to 92 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The rare disease biopharmaceutical posted revenue of $747.3 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $711.9 million.

For the year, the company reported profit of $426.9 million, or $2.21 per share. Revenue was reported as $2.85 billion.

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 decreased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.61, a drop of 26% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRN at https://www.zacks.com/ap/BMRN