WILMINGTON, Del. (AP) _ Incyte Corp. (INCY) on Thursday reported fourth-quarter profit of $111 million.

On a per-share basis, the Wilmington, Delaware-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The specialty drugmaker posted revenue of $579.4 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $570.1 million.

For the year, the company reported profit of $446.9 million, or $2.05 per share. Revenue was reported as $2.16 billion.

Incyte shares have fallen 13% since the beginning of the year. The stock has dropped nearly 7% 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 INCY at https://www.zacks.com/ap/INCY

Automated Insights, source Associated Press News