HOLON, Israel (AP) — HOLON, Israel (AP) — Compugen Ltd. (CGEN) on Tuesday reported fourth-quarter net income of $9.7 million, after reporting a loss in the same period a year earlier.

The Holon, Israel-based company said it had net income of 11 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The drug developer posted revenue of $33.5 million in the period.

For the year, the company reported that its loss narrowed to $18.8 million, or 21 cents per share. Revenue was reported as $33.5 million.

The company's shares closed at $2.95. A year ago, they were trading at 80 cents.

_____

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

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News