MADISON, Wis. (AP) _ Exact Sciences Corp. (EXAS) on Tuesday reported fourth-quarter net income of $77.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Madison, Wisconsin-based company said it had net income of 54 cents. Losses, adjusted for pretax gains, were 37 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for a loss of 37 cents per share.
The molecular diagnostics company posted revenue of $295.6 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $294.4 million.
For the year, the company reported that its loss narrowed to $84 million, or 64 cents per share. Revenue was reported as $876.3 million.
Exact Sciences expects full-year revenue in the range of $1.61 billion to $1.65 billion.
Exact Sciences shares have risen 2.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $94.83, a rise of roughly 8% 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 EXAS at https://www.zacks.com/ap/EXAS
Automated Insights, source Associated Press News