NEW YORK (Thomson Financial) - XenoPort Inc. reported late Wednesday
third-quarter net income of $15.6 million, or 60 cents a share, compared with a
loss of $16.3 million, or a loss of 67 cents, a year earlier.
Revenue for the period ended Sept. 30 jumped to $35.4 million from $3.1
million.
The mean estimates of analysts polled by Thomson Financial were for a loss
of 4 cents a share on revenue of $19.3 million for the third quarter.
The Santa Clara, Calif.-based biopharmaceutical company said revenue and
earnings for the latest quarter were boosted by recognition of revenue
associated with up-front and milestone payments from its collaborations with
GlaxoSmithKline and Astellas Pharma Inc.
"However, while recognition of revenues from our collaborations may result
in a profitable year for 2007, we continue to expect to incur losses for the
next several years," the company said.
The stock closed the regular session at $49.05.
Wanfeng Zhou
wz/tk1
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