SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Veracyte Inc. (VCYT) on Monday reported fourth-quarter profit of $5.1 million.
On a per-share basis, the South San Francisco, California-based company said it had net income of 6 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 36 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The molecular diagnostic company posted revenue of $118.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $116.8 million.
For the year, the company reported profit of $24.1 million, or 31 cents per share. Revenue was reported as $445.8 million.
Veracyte expects full-year revenue in the range of $470 million to $480 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VCYT at https://www.zacks.com/ap/VCYT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.