SAN FRANCISCO (Thomson Financial) - XenoPort Inc. swung to fourth-quarter
net earnings of $2.45 million, or 9 cents a share, versus a net loss of $18.6
million, or 76 cents a share, a year earlier.
The mean estimate of analysts polled by Thomson Financial was for a 17-cent
loss.
Revenue rose to $25.8 million from $3.11 million a year ago, versus the mean
Street view of $20 million.
Revenue and net income were positively impacted by the recognition of
revenue associated with up-front and milestone payments from the company's
collaborations with GlaxoSmithKline PLC, Astellas Pharma Inc. and privately held
Xanodyne Pharmaceuticals Inc. XenoPort said it continues to expect to incur
losses for the next several years.
The Santa Clara, Calif.-based biopharmaceutical company's stock closed the
regular session down $1.36 at $60.51.
Brigid Gaffikin
bg/gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|