EDMONTON, Alberta (AP) — EDMONTON, Alberta (AP) — Aurinia Pharmaceuticals Inc. (AUPH) on Thursday reported fourth-quarter net income of $1.4 million, after reporting a loss in the same period a year earlier.
The Edmonton, Alberta-based company said it had net income of 1 cent per share. Earnings, adjusted for restructuring costs, came to 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The biotechnology company posted revenue of $59.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $59.7 million.
For the year, the company reported net income of $5.8 million, or 4 cents per share, swinging to a profit in the period. Revenue was reported as $235.1 million.
Aurinia expects full-year revenue in the range of $250 million to $260 million.
Aurinia shares have fallen 11% since the beginning of the year. The stock has climbed 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUPH at https://www.zacks.com/ap/AUPH
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